2005
This year saw the launch of our new investment boutique strategy with the creation of our first two high alpha joint-venture boutiques. Argonaut a European fund boutique and Cartesian a UK fund boutique.
Britannic Group announced it was to merge with Resolution Life and this was successfully completed in September 2005 with the creation of Resolution plc – the leading consolidator of closed life funds in the UK. This merger more than doubled our funds under management to over £30bn.
2004
We announced a repositioning of the business as a multi-specialist asset management company. Central to this new focus was a change in the organisation of its investment management teams and the appointment of separate Chief Investment Officers for the core areas of expertise in the business - UK equities, International equities, Fixed Interest and Specialist Funds.
We also created a dedicated Liability Driven Investment (LDI) team for dealing with institutional pension mandates. We successfully executed our first LDI solution on the Britannic Group's £1bn pension scheme.