2010
Ignis Asset Management’s parent company changes its name to ‘The Phoenix Group’ to reflect a new chapter in the life of the Group as it progresses towards a Premium Listing on the London Stock Exchange and seeks to extend its shareholder base.
2009
Axial Investment Management, launched in 2006 to provide Pearl with its own asset management, manager selection and asset-liability management capability covering £22bn of assets, is merged with Ignis. The merged entity is called Ignis Asset Management, with around £71bn* under management.
Chris Samuel is made chief executive officer of the combined asset management business. Ignis also enhances its European distribution capabilities with a new sales team. The Pearl Group is listed on the Euronext and prepares for a London Stock Exchange listing.
*Source: Internal at 30 September 09
2008
Resolution plc is acquired by Pearl Group Ltd, one of the ten largest life company consolidators in the UK. Resolution Asset Management is subsequently rebranded as Ignis Asset Management in November.
Ignis – Latin for fire, burn or spark – maintains the multi-boutique and proprietary funds strategy. The group structure provides long term financial stability, combining the infrastructure and reassurance of an investment heavy weight with the dedication and spark of small, boutique teams.
2006
Britannic Asset Management changes its name to Resolution Asset Management, reflecting corporate changes. In addition a range of offshore, Dublin-domiciled funds are launched under Resolution International Funds plc.
A third joint venture is launched; the specialist emerging markets boutique, HEXAM. Resolution’s liability driven investment (LDI) capabilities are also enhanced with the launch of a scaleable LDI pooled solution, called Reliability.
The assets of Resolution Life and the Abbey National Life businesses are successfully taken on, bringing funds under management to approximately £59bn.
2005
2005 saw the launch of the new investment boutique strategy and the creation of the first two joint ventures; European equity specialists, Argonaut, and UK equity specialists, Cartesian. The intention is to provide best-in-breed investment management propositions through joint ventures and talented proprietary teams.
Britannic Group completes its merger with Resolution Life in September 2005, creating Resolution plc – the leading consolidator of closed life funds in the UK. The merger more than doubled funds under management to over £30bn.
2004
The business is repositioned as a multi-specialist asset management company. Central to the new focus is a change in the investment management teams and the appointment of separate chief investment officers for the core areas - UK equities, international equities, fixed interest and specialist funds.
A dedicated liability driven investment (LDI) team is created, dealing with institutional pension mandates.
2002
Blairlogie is fully integrated within the company and renamed Britannic Asset Management International.
2001
Britannic Group plc acquires the remaining 25% of Britannic Asset Management from Britannia Building Society. At the end of the year, Blairlogie Capital Management, a niche player in the international institutional investment market, is acquired increasing funds under management by £600m.
2000
Focused retail and institutional divisions are established along with a number of new products. Total funds under management across all areas of the business exceed £19bn.
1999
In December, Britannic Group plc acquires a 75% controlling interest in the investment operations of Britannia Building Society, which retained a 25% stake. Name changed to Britannic Asset Management.
1998
In July, Britannia Asset Management (BAM) is set up as a holding company for Britannia Investment Managers and Britannia Fund Managers, bringing the two companies under one brand name. The group’s funds under management at the end of the year exceed £7.7bn.
1997
An important watershed is reached when third party funds under management grow to more than 50% of total funds under management (£5.9bn) for the first time.
1996
In July the acquisition of the third party funds of Scottish Amicable Investment Managers (SAIM) is announced. As a result, total funds under management increase to £5.5bn. The Amicable Smaller Enterprise Trust is also transferred as part of the acquisition, providing our first step into the investment trust market.
1995
Ownership of Britannia Life's investment operations is transferred to Britannia Building Society. Britannia Investment Managers (BIM) and Britannia Fund Managers (BFM) are then established as separate subsidiary companies of the society.
1993
Britannia Life purchases the Life Association of Scotland, a similar-sized life and pensions company. This boosts funds under management to £2.8bn.
1991
Britannia Life acquires Crusader Insurance, another life company, which extends the product range and increases funds under management.
1990
In a pioneering move, F&S Assurance (a mutual) and its investment team business merges with Britannia Building Society and becomes Britannia Life (a non-mutual). At this point, funds under management total approximately £280m.
1983
The insurance industry begins to market more investment products and F&S forms its own investment management company. The Balanced Growth Fund is one of the first unit trusts to be launched by the company and remains in our unit trust range today.
1899
The roots of the company can be traced back to the Foreman and Staff (F&S) Mutual Benefit Society, a small friendly society formed in 1899. Following a series of mergers, the company eventually became F&S Assurance, mainly operating within Glasgow's engineering industry.