Standard Life Investments to merge all but one of ex-Ignis funds

SLI acquired Ignis Asset Management for £390m in March 2014 boosting the firm’s assets in the first half of the year to more than £5bn.

But according to confirmation released by the investment arm of insurance giants Standard Life, as of 23 October, 11 Ignis funds will be merged into SLI’s counterparts including the £258m Corporate Bond, £178m Managed Portfolio, £121m Balanced Growth, £108m American Growth and the £113m UK Equity Income funds.

Only the £535m Ignis Absolute Return Government Bond fund will not be part of the merger because it is “very different from any other of SLI’s funds”, a company spokesperson said. The fund will continue to be run separately within the company’s multi-asset team.

SLI has not yet decided how the funds’ management will be split across the teams but said trading in the new SLI funds would resume on 26 October.

The integration of the Ignis funds had been overseen by former chief investment officer of Ignis, Chris Fellingham, who stepped down from the firm in August.

The mergers are subject to shareholder approval.