,Credit: David Gyung/Shutterstock.

Cirencester Friendly has selected Schroders to manage its £75m investment portfolio.

This builds on Schroders’ appointment in September by Metfriendly, a financial mutual supporting the UK Police Family, to manage a £270m investment portfolio.

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Cirencester has provided income protection and additional support to thousands of members for more than 130 years. This appointment has reinforced Schroders’ credentials as an insurance asset management leader to the financial mutuals sector.

Furthermore, the award of this insurance mandate, which encompasses Schroders’ Multi-Asset and Insurance Solutions capabilities, emphasises the importance Schroders places on working with the UK’s mutual sector.

David White, global head of insurance, Schroders, said: “The financial mutual sector is a real strategic growth area for us and today’s news is testament to the huge amount of collaboration undertaken across our teams to deliver a relevant solution for Cirencester.

“We are grateful for the trust placed in us and are committed to helping Cirencester meet its investment objectives, as well as more broadly, working in partnership with the UK’s thriving mutual sector to reinforce our position as the go-to manager in this important segment of insurance.”

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David Evans, chief financial officer, Cirencester Friendly, added: “Achieving the best possible value for our members is central to our objectives and through appointing Schroders to manage our investment portfolio, we are doing just that.

“The team at Schroders have consistently demonstrated both their financial expertise and their deep understanding of the mutual sector. We look forward to building a long and successful partnership together.”