SWIP completes fund migration of £50 billion

The transfer of funds from Insight to SWIP commenced in October 2009 has now completed.

The funds were migrated in four Tranches - October 2009, January, February and March 2010. In total 300 funds have been migrated to SWIP, representing £50 billion in funds under management.

Dean Buckley, Managing Director of SWIP, said: "The migration of £50 billion in funds under management has been one of the biggest asset transfers of its kind.  I am therefore absolutely delighted that we have not only successfully completed the job but have done so within ambitious and challenging timescales.

"Throughout the migration process, SWIP has continued to deliver strong investment performance and excellent service to our clients.  SWIP now has £142 billion of assets under management with unrivalled distribution opportunities across the Lloyds Banking Group and great capabilities through which we can continue to build our external franchise.  This positions SWIP well for future growth and success."