Teachers Assurance Group has moved into third party management with the launch of Teachers Investment Management.
TIM, set up with a share capital of £350,000 will manage over £1bn of funds from the Teacher's Assurance Group. But it is targeting other insurance companies and friendly societies.
Teachers head of marketing Richard Haynes says: "Our long term funds have an excellent investment performance. Our friendly society policy is the top performing friendly society product."
TIM will offer management of UK and international equities, fixed interest and direct property in addition to a full investment administration service.