View more on these topics

Aberdeen Standard agrees £3.7bn funds deal with Virgin Money

Aberdeen Gilbert Martin Gilbert 700x450Aberdeen Standard Investments has agreed a joint venture with Virgin Money to provide asset management services to its customers.

Under the terms of the deal, Aberdeen Standard will acquire 50 per cent of Virgin Unit Trust Managers for an upfront cash payment of £40m.

The transaction is expected to be completed by the end of 2018.

Virgin Money currently has 200,000 retail investment customers and £3.7bn in assets under management.

Aberdeen Standard Investments co-chief executive Martin Gilbert says: “We’re delighted to be partnering with Virgin Money to develop its retail investment business.”

Gilbert says: “Its customer focus mirrors that of Aberdeen Standard Investments and we look forward to working together and sharing a strong and profitable relationship over many years to come.”

The news comes after Aberdeen Standard announced it is launching a €1bn private equity fund with Italian investment manager 21Partners.

The joint venture, called 21 Aberdeen Standard Investments Limited and made up of six people, will manage a fund targeting “active non-controlling interests” and support growing companies in Europe.

Recommended

The future of Standard Life Aberdeen

Distribution head Campbell Fleming is confident the firm can keep huge mandates while ouflows persist Standard Life Aberdeen is optimistic that it can hold on to the £109bn mandate it runs for Scottish Widows as the giant asset manager looks to stem a stream of outflows and build its future. In a wide-ranging interview with […]

1

Scottish Widows sticks with Standard Life Aberdeen for retirement funds launch

Scottish Widows will continue to temporarily employ Aberdeen Standard Investments for its fund management business as it launches a new range of retirement funds. The company has built a variant of its existing pension portfolio fund range and is targeting investors in drawdown. It will keep Aberdeen Standard’s expertise to manage the passive bond part […]

UK-Currency-Money-Pound-GBP-620x430.jpg
4

Which financial services names have made the Rich List?

The founders of Hargreaves Lansdown have seen their wealth increase over the last year as it emerges who gave what to the Leave and Remain campaigns ahead of the EU referendum. The Sunday Times Rich List, published yesterday, reveals co-founder of Hargreaves Lansdown Peter Hargreaves is ranked 51 among the UK’s wealthiest 1,000 people. His […]

A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment