Standard Life Investments' AUM hits record level of £72bn

Standard Life has reported a strong year for its investment arm with AUM up by 26%.

In company results released this morning, Standard Life Investments (SLI) reports third party assets under management 26% higher at a record level of £71.6bn, boosted by its fixed income and GARS range. Overall, the group says operating profit before tax increased by 7% to £425m in 2010, boosted by the uptick in markets and strong flows into funds and SIPPs. Customers on its wrap platform soared 80% to 57,000 (31 December 2009: 31,600) and the number of IFA firms using the platform increased by 41% to 820 (31 December 2009: 583). The group says: "In the UK, there is a growing deman...