SLI cuts Ignis equity managers

Standard Life Investments has cut the Ignis equity managers from 15 funds and handed the funds out to its own team.

SLI head of equities David Cumming says the firm is just two months into the integration of Ignis, which it bought from Phoenix Group in March for £390m.

The company manages £59bn, of which £11bn is tied up in the equity funds that were moved into the SLI fold on 26 August.

“Despite the fact that we are only eight weeks into what will be an 18 to 24-month programme, the integration of Ignis is on schedule and progressing extremely well,” Cumming says.

One of the affected Ignis managers, Mark Julio, has been snapped up by Sarasin & Partners. Julio used to run the £138.9m Ignis Global Emerging Markets Equity fund which has been taken over by Alistair Way, of SLI.

Ignis equity funds moved to SLI

Fund Name Fund size (appx as at 04/08/14)  New manager Former fund manager
Ignis  Asia Pacific 14,157,955 Will Malcolm Gordon Mackay
Ignis China Fund 30,597,707 Magdalene Miller Diamond Lee
Ignis Global Emerging Markets Equity Fund 138,875,721 Alistair Way Mark Julio
Ignis Intl Global Equity Fund 29,284,181 Mikhail Zverev James Smith
Ignis North America 24,068,936 Jeff Morris Terry Ewing
Ignis Pan Europe 19,861,550 Tony Hood Jonathan Fearon
Ignis European Smaller Company 76,752,244 Andrew Paisley Ian Ormiston
Ignis American Growth Fund 116,125,021 Jeff Morris Terry Ewing
Ignis Balanced Growth Fund 135,517,702 Henry Flockhart Ralph Brook-Fox
Ignis Managed Trust 14,470,184 Scott Smith James Smith
Ignis European Growth Fund 52,583,204 Kay Eyre Ian Ormiston
Ignis UK Equity Income Fund 94,394,739 Karen Robertson Graham Ashby
Ignis Global Growth Fund 37,301,916 Mikhail Zverev James Smith
Ignis Pacific Growth Fund 49,896,407 Will Malcolm Diamond Lee
Ignis Smaller Companies Fund 69,754,497 Caspar Trenchard David Clark

Source: Standard Life Investments