Royal London Asset Management aims to bolster its pension funds under management by a further £8bn inside four years.
The fund manager currently has £28bn of assets under management including £3bn of pension fund assets. It intends to boost total funds under management to £40bn by the end of 2005. The targets pave the way for further acquisitions as well as aggressive organic growth.
RLAM’s chief executive officer Christopher Phillips said: “I would like us to have £40bn under management within four years. I am assuming that there will be a bit of market growth I am being very conservative in my expectations of what the parent will give us to manage so the bulk of that increase should come from the pension fund side.”
Phillips added: “So we ought to be gunning for at least £8bn if not more in pension fund assets under management and I think that is perfectly achievable.”
RLAM's ambitious proposals follows the further strengthening of its overseas equities team with the appointment of four fund managers - Perhad Merwanji, Kevin Lilley, Jacqueline Simpson and Paul Heaton. All four will report to Philip Lawlor, head of overseas equities.
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