RLAM net inflows down 20% to £589m

Royal London Asset Management net inflows fell 20% to £589m over the 12 months to 31 December last year.

The group says fixed income dominated new business flows, but sales of active and passive equity unit trusts and Oeicss have been gaining momentum. RLAM says its cash management business - which has £6.2bn of funds under management - performed well, though the growth of new business was masked by the flow of funds back to clients allocating to other asset classes. "2009 was 'a year of two halves' in investment markets. Extreme pessimism in the first few months gave way to renewed optimism thereafter," Royal London says. "RLAM's investment performance was strong in 2009, helping to...