Standard Life Investments celebrates a decade of success
11 November 2008
Standard Life Investments Celebrates A Decade Of Success
The 16th of November will be a special day for Standard Life Investments as the global fund manager celebrates the tenth anniversary of its first day of trading back in 1998.
During this time Standard Life Investments has seen:
- Third Party Funds grow over eightfold from £5.3bn to £44.7bn¹
- Total funds under management more than double from £60bn to £123.6bn¹
- Assets grow strongly despite the fact that the FTSE* is approximately 20% lower now than it was in November 1998. Equities under management have grown over 55% to £52.7bn², making it one of the UK’s major investment houses
- Fixed Interest assets increase to £43bn² making it one of the five largest bond managers in the UK
- Property assets rise to £12bn² making it one of the largest property investors in Europe
- Delivery of a strong money weighted-average long-term performance track record
- Total private equity funds raised by SL Capital Partners exceed £4bn² making it one of the largest PE fund of fund managers in Europe
- Offices open in Edinburgh, London, Dublin, Boston, Montreal and Hong Kong, with representative offices in Frankfurt, Paris, Sydney, Seoul and Beijing
Commenting on the anniversary, Chief Executive Keith Skeoch said:
"Standard Life Investments was set up ten years ago to operate as a 'separate and distinctive company' and tasked with mounting a serious challenge to the established investment management industry by attracting new third party business.
"It has been particularly pleasing therefore to see Standard Life Investments grow its third party assets under management from over 8% of our total funds under management in 1998 to over 36% today and that we now have clients in 31 countries across the globe. Winning this business against best of breed in a competitive global market has been achieved on the back of strong long term performance, innovative products, award winning levels of customer service and the professionalism and skill of our people - attributes that a growing number of clients have come to recognise and respect.
"Over the last ten years it has been the strength of our 'Focus on Change' philosophy and our people’s excellent fund management skills which have allowed us to deliver strong long term performance, despite the fact that we have witnessed two of the deepest bear markets in the post war period.
"Everyone at Standard Life Investments would like to thank all our clients and customers, many of whom have been with us for many years now, for their continued support and I Iook forward to sharing with them the next chapter in Standard Life Investments's success story."
*FTSE is a trade mark jointly owned by the London Stock Exchange Plc and The Financial Times Ltd and is used by FTSE International Ltd under licence.
Key mile stones in Standard Life Investments’s history include:
- 16th Nov 1998
Standard Life launches a new £60bn Investment House, headed by Chief Executive Sandy Crombie, with third party funds under management of £5.3bn - Feb 1999
Keith Skeoch appointed Chief Investment Officer - December 1999
Standard Life Investments signs joint venture agreement with HDFC Asset Management in India - October 1999
Standard Life Investments new business breaks the £1bn (gross) barrier - November 2000
Assets increase by £8bn – second year of strong progress - February 2001
Standard Life Investments opens office in Hong Kong - December 2001
Standard Life Investments trebles new business in three years - April 2002
Standard Life Investments opens office in Boston - November 2002
Standard Life Investments new business sales more than quadrupled in the four years since launch - March 2003
Standard Life Investments purchases an additional 10% in HDFC Asset Management taking its stake in the company to 49.9%³ - January 2004
Sandy Crombie appointed Group CEO and Keith Skeoch appointed Acting CEO for Standard Life Investments - June 2004
Keith Skeoch appointed CEO of Standard Life Investments - June 2004
David Cumming and Rod Paris appointed to Standard Life Investments Board - July 2005
Announced £100bn barrier smashed as assets rise to £105.7bn - July 2006
Standard Life IPO/flotation - August 2007
Standard Life Investments announces the creation of SL Capital Partners - March 2008
Global Lipper Award Success for Standard Life Investments in the 'Non UK Equity Large' category at the Lipper Fund Awards 2008 - April 2008
‘Multi-Asset Manager of the Year’ Award at the UK Pensions Awards 2008 - Sept 2008
Third Party funds under management hit £44.7bn; total funds under management £123.6bn
¹third party and total funds under management as at 30/09/08, ²equities, fixed interest, property and private equity assets as at 30/06/08, ³Standard Life Investments currently has a stake of 40% in HDFCAMC
