Edinburgh-based investment giant Aberdeen Standard Investments (ASI) said it has been appointed investment adviser for £3.6 billion of assets across a range of portfolios on behalf of Virgin Money Unit Trust Managers Limited (VMUTM) and its underlying clients.

The appointment of ASI as investment adviser on these five funds completes the next stage of the ongoing strategic joint venture between ASI and Virgin Money. 

ASI manages assets of around £505.1 billion.

The funds which comprise the assets being transferred are Virgin UK Index Tracking Trust; Virgin Bond, Gilt and UK Share Fund; Virgin Bond, Gilt and Overseas Share Fund; Virgin Global Share Fund; Virgin Money Bond and Gilt Fund.

Aberdeen Standard Investments chairman Martin Gilbert said: “The appointment of ASI as investment adviser for these five funds is a significant step in developing our joint venture with Virgin Money.

“Our wide range of investment capabilities, including multi-asset and quantitative investing, means we are well placed to advise on these portfolios and work with Virgin Money on additional investment solutions to meet the needs of its customers and those of its parent CYBG.”