Standard Life appointed to £210m portfolio

Published on Thursday 24 September 2009 21:14

STANDARD Life Investments, has been appointed to manage a 230 million (£210m) European corporate bond portfolio for Länsförsäkringar, Sweden's only customer-owned and locally based banking and insurance group.

The assets will be managed within Standard Life Investments' European Corporate Bond Fund SICAV. It is managed by Craig MacDonald, head of investment grade corporate bonds, who has over 12 years experience in the asset class.

Launched in September 2003, the fund has produced top quartile performance over one, three and five years, and since inception

It has also outperformed its benchmark, the iBoxx European Corporate Bond Index, over the same periods.

Standard Life Investments has built a strong track record in managing funds across a diverse range of fixed-income markets. It manages 62.6bn (57.3bn) in bonds around the world.

Gustav Karner, finance director at Lnsfrskringar, said: "We use the very best credit managers in the world. In Europe we have appointed four managers, of which Standard Life Investments is one."

sa Norrie, investment director for Scandinavia at Standard Life Investments, said of the appointment: "We are very pleased to have secured Lnsfrskringar as a client. This appointment comes after a rigorous selection process.

"It demonstrates the strength and reputation of our bond capability in the Nordic Region.

"I'm looking forward to working with Lnsfrskringar and building upon this important relationship."