3 September 2014 - Standard Life completed its deal to buy Ignis Asset Management on 1st July 2014, and the process of integrating the two businesses has now begun.
The management of all Ignis equity funds has now been handed to Standard Life Investment's team of 60 global investment professionals. The wider integration process is expected to take between 18 months and two years and there is, as yet, no change to the Ignis property team.
Darius McDermott, managing director of Chelsea, commented: Standard Life has a very strong equity team so investors shouldn't worry unduly. The transition will obviously take some time to settle down, but, in the meantime, we rate the Ignis funds a generic 'hold'. The one stand-out Ignis fund, in my view, was the European Smaller Companies fund and it's a shame that the manager, Ian Ormiston, was not retained by Standard Life.”
Details of each fund and the new manager are listed below.
|Unit Trust fund name||Old manager||New manager|
|Ignis Balanced Growth||Ralph Brook-Fox||Henry Flockhart|
|Ignis UK Equity Income||Graham Ashby||Karen Robertson|
|Ignis UK Smaller Companies||David Clark||Caspar Trenchard|
|Ignis European Growth||Ian Ormiston||Kay Eyre|
|Ignis European Smaller Companies||Ian Ormiston||Andrew Paisley|
|Ignis American Growth||Terry Ewing||Jeff Morris|
|Ignis Pacific Growth||Diamond Lee||Will Malcolm|
|Ignis Global Growth||James Smith||Mikhail Zverev|
|Ignis Managed Trust||James Smith||Scott Smith|
|Offshore fund name|
|Ignis Pan Europe||Jonathan Fearon||Tony Hood|
|Ignis North America||Terry Ewing||Jeff Morris|
|Ignis Asia Pacific||Gordon Mackay||Will Malcolm|