Irish Life pension platform secures Standard Life funds

The Global Absolute Return Strategies Fund (GARS), the Global Inflation-Linked Bond Fund (GILB) and the European Smaller Companies Fund (ESC) will all be available to pension investors via Irish Life's platform from mid-September 2011.

David Harney, chief executive, Irish Life Corporate Business, said: "Irish Life has led the Defined Contribution market in Ireland with the launch of many innovations to enhance communication, governance and investment risk management. We are very pleased to be able to add these Standard Life Investments' funds to the range of funds and lifestyle investment strategy solutions already available from Irish Life.

“It is very important that trustees make the appropriate default strategy and fund choices available to their members. The addition of these new funds gives trustees of schemes managed by Irish Life Corporate Business an even more comprehensive menu from which to make their selection."

Jennifer Richards, joint head of European business development & head of Ireland, Standard Life Investments, said: "This is an exciting development for the Irish corporate pensions market. It is an initiative which combines the award-winning fund management skills of Standard Life Investments with the best-in-class pension administration of Irish Life.

"There is a growing appetite within the defined contribution market for default funds with lower volatility. GARS is an investment solution which has been in great demand for this very reason. Launched in Ireland three years ago, it has already amassed approximately €1bn in assets and attracted some 130 Irish institutional pension clients. By making our absolute return fund available on Irish Life's pension platform we are responding to client's needs for more flexibility and lower risk.

"Our Global Inflation-Linked Bond fund and European Smaller Companies fund should further strengthen Irish Life's active management range. Many investors are concerned about inflation and see GILB as a vehicle for mitigating this threat, while the European Smaller Companies fund provides a more aggressive option to those keen to benefit from the encouraging outlook for corporate earnings."