Treasury & Asset Management
Our Products and Markets
Treasury
The Treasury division’s principal business activities are focused on performing three core functions:
- managing the funding and liquidity position of the Group;
- providing financial services to the Group and its customers; and
- delivering profits.
The order of these functions is important as it reflects the relative priority of each function and ensures that we are able to prioritise accordingly. Funding and liquidity, therefore, is the most important function.
Treasury has operations in London, New York, Sydney, Dublin and Glasgow. Treasury aligns itself to the growth plans in other divisions and therefore seeks to grow income from treasury activities in each of these locations.
Asset Management
Asset Management comprises Insight Investment (‘Insight’) and Invista Real Estate (‘Invista’).
Insight is one of the UK’s largest fund managers, operating a multi-channel business and managing money for retail investors, pension funds, insurance groups and other institutions, as well as providing the investment expertise for our Insurance & Investment division. Insight’s strategic product lines are Fixed Income, Liability Driven Investing (‘LDI’), Absolute Return and Equities and we have ambitions to grow our market share in these key areas, predominantly in the UK Institutional market but also we plan a gradual expansion into Europe as well as continuing to leverage off the strength of the Group’s brands.
Invista Real Estate Investment Management is the largest UK listed real estate fund management group. Invista manages both commercial and residential property across the UK and continental Europe, and has a total of £8.7bn in assets under management as at 31 December 2007. It manages the real estate assets in funds on behalf of a number of clients, including Halifax, Clerical Medical and St. James’s Place.