Standard Life has awarded two new mandates to Invesco comprising £2bn (€2.4bn) managed by Invesco’s active fundamental equity team, alongside a £500m US equity mandate managed by the Invesco quantitative strategies team.
The new mandates build on an existing relationship under which Invesco already manages more than £6bn in UK equities on behalf of Standard Life.
Standard Life said the new mandates are part of a fund simplification process, slimming down the number of funds it offers to ensure best value for customers and clients.
Thomas Davies, head of policyholder investment office at Standard Life, said: “Our priority is to deliver strong long-term outcomes for our customers and ensure their savings are invested in a way that supports their future financial security.”
Joe Steidl, head of UK insurance distribution at Invesco, said: “Large institutional investors increasingly value strategic investment partners that can provide a broad range of complementary capabilities through a single relationship.
“The expansion of our partnership with Standard Life reflects that trend. By combining active and quantitative investment expertise with global scale and resources, we are well positioned to support its long-term objectives and help deliver better outcomes for millions of customers saving for retirement.”
