Standard Life Investments (SLI) has taken on the management of the UK Commercial Property Trust following the completion of its acquisition of Ignis.
The board of the £1.1bn investment trust said today that it was happy to agree to the switch after receiving “assurances” from SLI that it will retain the Ignis property team.
The board said: “SLI has also provided assurances regarding the retention of the team involved in the management and administration of the company, which will provide continuity for the successful management of the company going forward.”
The Guernsey-domiciled trust is managed by the Ignis real estate team, with senior investment director Robert Boag as lead manager.
The team also includes portfolio manager David Rodger and asset managers Daniel Baynes, Sheila Campbell and Jamie Horton.
SLI announced the completion of its £390m deal to buy Ignis from Phoenix Group yesterday.
