F&C Assesses Impact of Lost Mandate Setback After Resolution Switches Funds

The Herald › March 23, 2006

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Summary

THE loss of further investment mandates because of historic investment underperformance is still a business risk for F&C Asset Management, the company said yesterday as it unveiled post-merger results.

The F&C and ISIS merger, which still employs more than 100 in Edinburgh, will next month receive compensation of GBP27m - equivalent to a year's revenue - from Resolution, which has switched its GBP25bn of funds to its own Glasgow-based manager, the former Britannic.

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Extract

F&C Assesses Impact of Lost Mandate Setback After Resolution Switches Funds

However, it admitted yesterday that the loss would be a blow, and also that it had lost some higher-margin business in the form of emerging markets mandate...

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