Standard Life Plc

The purpose of FTSE250 Phoenix Group is to decommission closed life funds \'safely, innovatively and profitably\' - improving returns for customers and delivering value for its shareholders. A fund is defined as \'closed\' if no new policies are being sold. The group has £68.5bn of assets under management and serves more that six million policy holders. It has two core segments: life assurance (Phoenix Life) and asset management (Ignis Asset Management), which together employ around 1,200 people across the UK and Channel Islands.