18/06/2007

Standard Life Investments Secure £130m UK Equity Mandate From Clwyd Pension Fund

Standard Life Investments, one of the largest equity managers in the UK, today announced that it has been selected by Clwyd Pension Fund to manage a UK Equity portfolio valued at £130 million.

The appointment follows a comprehensive tendering and evaluation process involving a number of investment houses. Helen Driver, Investment Director, UK Equities, will be the portfolio manager responsible for the account.

Standard Life Investments has been successful in attracting a number of local authority mandates, including the London Borough of Redbridge (£85m), Leicestershire County Council (£150m), the London Borough of Havering (£80m), Staffordshire County Council (£200m) and Cheshire County Council (£225). It now manages almost £4bn of UK local authority mandates.

A spokesperson for Flintshire County Council, who administer the pension fund, said:

"We are pleased to work with Standard Life Investments on such an important mandate for the Clwyd Pension Fund."

Chris Morawiecki, Investment Director – UK Local Authorities, Standard Life Investments, said:

"This is an important win for us and maintains the momentum we have built up in the UK local authority market in recent years. From a standing start nine years ago, Standard Life Investments now manages nearly £4bn on behalf of over 20 UK local authority pension funds and their members. We don't intend to rest on our laurels and remain committed to growing this important area of our business through sustained outperformance and continuing high levels of client service."

In recent months Standard Life Investments has won 'Active UK Equity Manager of the Year' (Pension & Investment Provider Awards), 'Specialist Manager of the Year – UK Equities' (UK Pensions Awards) and 'UK Equity Manager of the Year' (Financial News 'Awards for Excellence in Institutional Asset Management - Europe 2006')