Phoenix’s UK funds hit £1 billion 20 March 2013London Reporter: Jenna Jones
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Phoenix Fund Services (Phoenix) UK funds business has reached £1 billion funds under administration.
Phoenix provides a range of investment administration services with a focus on supporting the growth of specialist investment managers.
John Rice, Phoenix’s chief executive, said: “Phoenix is delighted that its UK funds business continues to grow strongly. The UK funds business has been an important engine of growth for the business over the past 3 years. From the outset, an integral but distinguishing element of the Phoenix proposition has been its comprehensive range of investment and securities operations.”
“This has allowed it to support investment managers as they develop their own business, whether through an increasing range of their own funds or a diversity of segregated portfolios with a range of custodians and third party administrators.”
Phoenix’s total assets under administration as of 28 February 2013 was £6.6 billion.
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