Wholly-Owned Investments 

UKFI is responsible for managing the Government’s 100 per cent shareholding in UK Asset Resolution Limited (UKAR) on behalf of HM Treasury. UKAR was established on 1st October 2010 to manage the closed mortgage books of NRAM plc and Bradford & Bingley plc. UKFI also managed the Government’s 100% shareholding in Northern Rock plc from its formation on 1 January 2010 until its sale to Virgin Money on 1 January 2012.

As at 31 March 2017 UKAR owed HM Treasury £25.0bn. Following the completion of a Bradford & Bingley asset disposal in April 2017 this reduced to 13.6bn, an amount which the Company expects to repay in full. 
UKFI’s activities in relation to the management of the Wholly-Owned Investments are set out in the UKFI Framework Document – April 2016, and UKFI Investment Mandate - Revised October 2014 Version and our Annual Reports and Accounts.


31st March 2017

UKAR announces £11.8 billion sale of Bradford & Bingley assets
UK Financial Investments Limited (UKFI), today confirms that following an open and competitive sales process, UK Asset Resolution Limited (UKAR), the holding company for the government owned businesses of Bradford & Bingley plc (B&B) and NRAM Limited (NRAM), has agreed to sell two separate asset portfolios of performing buy-to-let loans from B&B to Prudential plc and to funds managed by Blackstone for £11.8 billion

7th October 2016

Intention to sell shares in Lloyds Banking Group plc through a trading plan
UKFI today announces that it intends to continue to sell Her Majesty’s Treasury’s (“HMT”) shareholding in Lloyds Banking Group plc (the “Company”) over the next twelve months through a pre-arranged trading plan that will be managed by Morgan Stanley & Co. International plc (“Morgan Stanley”).