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SWIP reports good year for institutional business

UK - Scottish Widows Investment Partnership (SWIP) boosted its institutional sales last year mainly by winning a record number of UK mandates.

The asset manager said its institutional sales rose 22% over the last year after winning £1.3bn (€1.9bn) in new institutional business.

This brings SWIP's institutional assets under management up to £26.5bn.

One of the latest UK pension fund mandate wins for SWIP last year was a  £50m "environmentally-friendly" mandate with the £1.3bn pension fund of the Environment Agency.

In April, news of the tragic death of outgoing SWIP chief executive Chris Phillips, 50, shocked colleagues. He had intended to join Morley Fund Management in the summer.

SWIP told IPE they are currently actively recruiting for a new chief executive but have yet to appoint anyone.

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