06/12/2007

Standard Life Investments wins £120m Taylor Wimpey mandate

Leading fund manager, Standard Life Investments today announced its appointment by Taylor Wimpey, the UK house builder, to manage a segregated UK Equity portfolio valued at over £120m.

Euan Stirling, Investment Director, UK Equities at Standard Life Investments will manage the portfolio which will aim to outperform the FTSE All Share Index by 2% pa. The appointment follows a comprehensive tendering and evaluation process which began in August 2006, involving a number of investment houses. During the appointment process, Taylor Wimpey was advised by global provider of consulting, outsourcing and investment services, Mercer.

Anna Edgeworth, Chairman of the Trustees at Taylor Wimpey, said:

“We are delighted at the prospect of working with the team at Standard Life Investments who, throughout our rigorous selection process, have instilled every confidence in us that they are more than capable of achieving the targets we have set them.”

Euan Baird, Investment Director, Institutional Business, at Standard Life Investments, said:

“We are extremely happy to have been appointed as the manager of this new mandate which further enhances our reputation as a leading UK Equity manager. Euan Stirling has a fantastic track record in this area as evidenced by the impressive performance achieved through a range of our segregated funds. This, paralleled by the quality and rigour of Standard Life Investments investment process, clearly stands us in good stead.

“We very much look forward to working with Taylor Wimpey and helping them achieve their investment objectives.”