Life - Articles - Friends Life Investments announces recapture of £7bn assets

 Friends Life Investments (FLI), Friends Life Group's in-house asset management business, has recaptured a further £7 billion of assets in the first half of 2013, marking the successful delivery of the next phase of its asset re-capture programme.

 The announcement follows significant strengthening of the derivative and asset allocation infrastructure over recent months.

 Since the launch of FLI in July 2012 the firm has recaptured £18 billion of Group assets, leveraging its existing investment capability, investment strategy and asset liability management to support the management of fixed income assets within the annuity, shareholder and With Profit portfolios.

 Mark Versey, Chief Investment Officer of Friends Life, said:

 "We continue to achieve our stated strategy of recapturing assets and, following the move to bring back a further £7 billion of assets in the first half of 2013, we have met our target of £18 billion since launch in July 2012. We've made great progress in building scale within FLI during the first year of operating."