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SLA transforms, but outflows a concern

SLA transforms, but outflows a concern

Standard Life Aberdeen's (SLA) transformation to fully-fledged asset manager has taken a giant leap forward through a deal to offload its "capital-intensive" insurance business to closed life assurance book consolidator Phoenix (PHNX) for an aggregate £3.2bn. It will result in the disposal of businesses including UK workplace, mature retail and Europe, representing £159bn in assets under management.

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