Aberdeen Government Markets Income Fund · NYSE:MGF
Aberdeen Government Markets Income Fund — Standard Life Investments — Merger or Acquisition (March 2014)
11 slides from Aberdeen Government Markets Income Fund's merger presentation, Mar 26, 2014
Slide 1: Standard Life Investments strengthens strategic position through acquisition of Ignis Asset Management
Standard Life Investments strengthens strategic position through acquisition of Ignis Asset Management 26 March 2014
Slide 2: Forward-looking statements
This presentation may contain certain “forward-looking statements” with respect to certain of Standard Life's plans and its current goals and expectations relating to its future financial condition, performance, results, strategy and objectives. Statements containing the words “believes”, “intends”,
Slide 3: Acquisition of Ignis Asset Management from Phoenix Group
Acquisition of Ignis Asset Management by Standard Life Investments from Phoenix Group1 • Strengthens strategic positioning of Standard Life Investments: • Deepens Standard Life Investments’ capabilities • Broadens Standard Life Investments’ third party client base • Strengthens strategic position in
Slide 4: Complements strong organic growth: 2013 net flows
Complements Standard Life Investments’ strong organic growth 2013 third party net flows (total and as % of opening third party AUM)1 £13bn £12.0bn £1.9bn2 £9.5bn £9.4bn £9.3bn £10.1bn £5.7bn 2013 net flows £2.5bn £1.3bn 4.90 £1.2bn (£1.3bn) (£10bn) (£8.1bn) SLI + Ignis M&G Schroders LGIM Ashmore Hen
Slide 5: Deepening investment capabilities
Deepening investment capabilities Ignis Asset Management AUM of £59bn by asset class1 2013 UK and Europe absolute return fund net inflows 3% 5% Rates Combined SLI Absolute 30% Return Suite + ARGBF £6.7bn Credit 21% Liquidity SLI Absolute Return Suite £5.3bn Other fixed income 3% Equity Real estate I
Slide 6: Broadening third party client base
Broadening third party client base Standard Life Investments Combined with Ignis Asset Management1 Third party AUM 2013 Change 2013 36% 2013 £bn % £bn Third party AUM now 47% Total 53% Total Third party 112 46 +15 46% 64% of total AUM AUM Third party – Life £184bn £243bn 44 18 +44 books 18% Total th
Slide 7: Strengthens strategic position for rapidly developing liability aware market
Strengthens strategic position for rapidly developing liability aware market Growing global market DB pension schemes for outsourcing of insurance assets locking in funding levels and de-risking • US$1 trillion expected to be outsourced in the near • UK and US schemes funding levels average 95% futu
Slide 8: Value creation for shareholders
Value creation for shareholders • Acquisition on attractive terms: EBITDA margin 50% • Consideration for Ignis Asset Management of 45% £390m including regulatory capital 40% 37% • Consideration reflects a multiple of 2013 35% EBITDA (£52m) of 7.5x before synergies 25% • Material cost savings from in
Slide 9: Controlled integration focusing on client needs
Controlled integration focusing on client needs • Business as usual for existing Standard Life Investments’ business and clients • Phased integration of Ignis Asset Management • Protecting flows and maintaining strong client relationships Progressive migration into Standard Life Investments’ brand a
Slide 10: Strengthening strategic position of our global asset manager
Strengthening strategic position of our global asset manager 10
Slide 11: Summary
Summary • Acquisition of Ignis Asset Management by Standard Life Investments from Phoenix Group • Strengthens strategic positioning of Standard Life Investments: • Deepens Standard Life Investments’ investment capabilities • Broadens Standard Life Investments’ third party client base • Strengthens s
Standard Life Investments — Merger or Acquisition (March 2014) on 6ix