Wholly-Owned Investments 



UKFI’s activities in relation to the management of the Wholly-Owned Investments are set out in the UKFI Framework Document - Revised October 2014 Version and UKFI Investment Mandate - Revised October 2014 Version.

The ‘Wholly Owned’ investments comprised Northern Rock plc and UK Asset Resolution Ltd (UKAR), until the sale of Northern Rock plc to Virgin Money on 1 January 2012.  UKAR was formed during 2010 to integrate the activities of NRAM plc and Bradford & Bingley plc. UKFI managed the Government’s 100% shareholding in Northern Rock plc from its formation on 1 January 2010 until its sale.



Government investments as of 1 April 2014 comprise
  • £14.9bn of loans in NRAM;
  • £5bn of Working Capital Facility (WCF) in Bradford & Bingley plc with an additional £18.4 billion statutory debt comprising £15.7 billion owed to the Financial Services Compensation Scheme (FSCS) (via a loan from HM Treasury) and £2.7 billion owed directly to HM Treasury, reflecting the value of the retail deposits which were transferred to Abbey National plc.
QUICK LINKS

PRESS RELEASE
20th May 2015

UKFI to become subsidiary of new government-owned company
UKFI today confirms that it will become a subsidiary of UK Government Investments (UKGI), a new government company wholly owned by HM Treasury. download [106,1 KB]


PRESS RELEASE
14th May 2015

Statement re: Lloyds Annual General Meeting
UKFI has lodged votes in favour of all resolutions at the bank’s Annual General Meeting on 14 May. download [105,8 KB]