SSGA wins £1.5bn mandate from Family Investments
State Street Global Advisors (SSgA), the investment management business of State Street Corporation, has been appointed by UK mutual Family Investments to manage a combination of passive equity and fixed income strategies for £1.5bn in assets, as well as a tactical asset allocation overlay for the majority of these assets.
Family Investments is a mutual organisation with 35 years experience helping families with savings and investments. It now manages in excess of £3bn for over 1.75 million people throughout the UK.
“We selected SSgA on the strength of the overall solution that they offered our members,” said chief executive John Reeve. “We felt that SSgA could deliver comprehensive market exposure in both fixed income and equities and a robust Tactical Asset Allocation process.”
Susan Raynes (pictured), senior managing director and head of SSgA’s UK, Middle East and Africa (UKMEA) institutional business said State Street already supports Family Investments with investment management servicing capabilities and the firm was delighted to expand the relationship.