Schroders announces completion of transfer of Scottish Widows and Lloyds Banking Group assets
The completion of the transfer follows the announcement in October 2018 of a strategic partnership between Schroders and Lloyds Banking Group.
Schroders plc (“Schroders”) today announces the completion of its on-boarding of £75 billion of Scottish Widows and Lloyds insurance and wealth-related assets, following an announcement in October 2018 of a strategic partnership between Schroders and Lloyds Banking Group.
The migration of the assets to Schroders was conducted in seven tranches from September 2019 to March 2020.
The mandates comprise more than 320 portfolios, including Active Equity, Equity Alpha, Equity Low Risk Active, Fixed Income, Multi Manager, Multi Asset, Portfolio Solutions, Private Equity and Property funds.
Schroders’ Group Chief Executive, Peter Harrison, commented:
“The completion of on-boarding such a significant mandate is a monumental achievement for Schroders, and underlines our strategy and commitment to being the leading active manager.
We are incredibly proud of the work done to achieve this milestone, which is the culmination of a year-long project by a dedicated team of Schroders colleagues, alongside Lloyds Banking Group and other key stakeholders. It is all the more significant that this has been completed on time and on target, despite the challenging conditions of recent weeks due to the Covid-19 situation.
This partnership demonstrates our ability to manage large and complex portfolios, providing consistent returns for investors, which are as important as ever in today’s uncertain times.”