Friends Life increasing focus on Asia
Despite a tough first half for the UK insurer and reports that it may be selling its international business, Friends Life plans to devolve more fund-selection responsibility to the region and beef up its team there.
More Asian investors have been looking to Europe, the search for yield has waned and demand has grown for multi-asset strategies over the past couple of years, said Colin Tipping, investment proposition director of UK insurer Friends Life*.
The group was last week reported to have hired Goldman Sachs to help it sell its international business, Friends Provident International (FPI), though no formal decision has been made, according to the sources quoted.
FPI, which has offices i…
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