Santander wins £1.5 billion Family Investments mandate

Leading friendly society, Family Investments, has appointed Santander Asset Management UK to manage its £1.5 billion investment portfolio.

This is the first institutional asset management mandate win for Santander Asset Management in the UK, and reflects its growing reputation in this market.

The Family Investment Portfolio comprises of 23 funds, including the Family Child Trust Fund, and the Family staff pensions scheme. Santander Asset Management UK will take over management of the portfolio during Q4 08.

Investment Approach

Santander Asset Management will manage the portfolio using both passive and active mandates/ funds to meet the diverse needs of Family Investments customer base. The relationship will be coordinated locally in the UK with management of the passive assets split between London and Madrid and the Absolute Return Funds run by Optimal, part of Santander Asset Management , out of Geneva.

Ignacio Izquierdo, Chief Executive of Santander Asset Management UK said "We are delighted to have been appointed to manage this investment mandate on behalf of Family Investments and look forward to working with Family over the coming years. This is an endorsement of Santander Asset Management's proven investment model, and our ability to use our global expertise to tailor solutions for local markets. This demonstrates that we are continuing to build a world class asset management business in the UK."

John Reeve, Chief Executive of Family Investments said "We are committed to providing an investment structure with the best balance between risk and growth for our 900,000 customers. Following an extensive review of our investment strategy, we are very pleased to appoint Santander Asset Management as we believe they are well placed to achieve the returns we require. Their strong performance track record and highly experienced global team makes them the ideal choice to deliver long term benefits to all of our customers."