The mandate reinforces Schroders’ position as an insurance asset management leader and expert in delivering actively managed and tailored investment solutions. It encompasses Schroders actively managed multi-asset and fundamental equity capabilities, providing simplified yet extensive investment solutions for a range of Scottish Friendly’s policyholders.
This follows Scottish Friendly’s decision to simplify its product offering as part of a Unit-Linked Fund Rationalisation project, ensuring customers have a clearer selection of competitively priced funds managed by Schroders.
Scottish Friendly, one of the UK’s largest mutual life insurance companies with over 850,000 members, is an award-winning financial services provider dedicated to delivering products and services that help families thrive in the UK.
Phil Middleton, Head of UK at Schroders, said: “We are delighted to be appointed by Scottish Friendly to forge a new partnership with a leading player in the UK Mutual sector. This appointment represents an exciting opportunity for Schroders, emphasising our ability to meet clients' investment needs. We believe that the combination of both businesses’ long-standing heritage and financial services expertise creates a strong partnership focused on the individual needs of members. The mandate is a show of support for our strong investment capabilities, compelling active investment proposition and commitment to the mutual sector, which continues to be a key growth area for us. We are dedicated to working in partnership with Scottish Friendly and the UK’s thriving sector to reinforce our role as the preferred manager in this vital segment of the insurance market."
Alan Rankine, CFO at Scottish Friendly, said: "We are pleased to announce our strategic partnership with Schroders who will now act as our investment manager for this business. This collaboration is integral to our goal of providing our customers with a streamlined selection of funds that will continue to reflect the varying risk profiles we offer our members. As a mutual organisation, we are committed to delivering real value to our members, and Schroders' extensive expertise, impressive track record, and competitive pricing present a compelling opportunity for us to elevate the overall investment experience through our Unit-Linked Fund Rationalisation project. We are confident that this partnership will drive significant value, ensuring our customers continue to receive investment solutions to meet their needs."
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