Standard Life Investments to rename 10 Ignis funds

Standard Life Investments to rename 10 Ignis funds

Standard Life Investments (SLI) is set to rename a swathe of former Ignis funds as part of its ongoing efforts to integrate its recent acquisition fully.

SLI replaced many of the Ignis open-ended fund range’s managers with its own in 2014. But on June 8, it will formally rename 10 funds and change the authorised corporate director (ACD) on the range from Ignis Asset Management Limited to Standard Life Investments (Mutual Funds) Limited.

The funds will retain the word Ignis in their names but will all start with Standard Life instead. For instance, the Ignis American Growth fund will become the Standard Life Ignis American Growth fund.

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Other funds due to be renamed are Ignis Balanced Growth, Ignis Corporate Bond, Ignis European Growth, Ignis Global Growth, Ignis High Income Bond, Ignis Pacific Growth, Ignis Smaller Companies, Ignis UK Equity Income and Ignis UK Property Feeder.

Standard Life has been attempting to integrate Ignis Asset Management fully since it acquired the firm from Phoenix Group in March last year for £390m. SLI said the change in name and ACD was “part of the ongoing integration process”, adding that there would be no changes to the funds themselves in terms of managers or investment strategy.

One fund not included in the renaming spree was the Ignis Absolute Return Government Bond fund, which SLI picked as a key benefit behind buying Ignis. It suffered large outflows after most of its management team, left for Old Mutual.