RLAM inflows tumble as market conditions bite

Royal London Asset Management (RLAM) said today net new business had fallen sharply in 2011 as the uncertainty caused by the sovereign debt crisis in Europe hit sentiment.

Net new business at RLAM in the 12 months to 31 December remained positive at £379m, but was down 67% on the previous year's £1.1bn. This was due to the prevailing market conditions, it said. It added long term performance at RLAM, which invests a significant portion of client monies in its equity and bond OEICs, remains strong despite the "prevailing economic environment, ongoing market volatility and uncertain outlook". Phil Loney (pictured), group CEO, said: "2011 has been a very challenging year as austerity measures in the UK continue to bite and the economic backdrop remains dif...