SLI wins £340m bond mandate from Rentokil

Standard Life Investments, one of the largest fixed income managers in the UK, today announced that it has been selected by the Rentokil Initial Pension Trust Ltd to manage an active UK corporate bond portfolio valued at £340m.

The appointment follows a comprehensive tendering and evaluation process involving a number of investment houses. Craig MacDonald, Investment Director – Bonds, will be the portfolio manager responsible for the account. The fund’s objective is to outperform the iBoxx Sterling Non-Government Index.

Standard Life Investments has as a strong track record in managing UK corporate bonds. Its flagship £1.6bn UK Corporate Bond Fund has outperformed its benchmark, the Merrill Lynch Sterling Non-Gilts All Stock Index, each year for the last five years.

Standard Life Investments has been successful in attracting a number of fixed income mandates, with recent wins including the Pensions Trust (£300m) and the London Borough of Redbridge (£95m). It now manages over £50bn in fixed interest around the world.

Eddie Gimlette, Investment Director – Institutional Clients, Standard Life Investments, said: “Rentokil’s decision to place a substantial amount of assets with us demonstrates the success of our approach which has been attracting an enormous amount of interest from pension funds over the last 12 months or so. It’s a highly competitive market but we are managing to get across to trustees and consultants the benefits that our robust investment process and the talented bond team bring.”