F&C loses £15bn Friends Life mandate

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Friends Life is to pull a further £15bn of assets from F&C Asset Management by the end of the year, as it awards several mandates to a new investment manager.

F&C said it will no longer run £12.2bn of equity and multi-asset mandates for Friends Life, which demerged from F&C in 2009. Friends Life said Schroders would manage these assets. Meanwhile, F&C's strategic...

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