SLI reports 20% profits boost as investors back GARS

Standard Life Investments (SLI) saw profits increase by 21% last year, thanks in part to rising revenues and the continued popularity of GARS.

Profits climbed from £103m in 2010 to £125m last year as revenues rose 16%. However, third party net inflows, still positive at £4.28bn, were down significantly on the previous year's £6.2bn. UK mutual fund net inflows were £1.64bn, down from £2.22bn in 2010. Most of its 2011 sales were into high-margin products including UK wholesale and the Global Absolute Return Strategies (GARS) offering, led by Euan Munro. The group said it will continue to support advisers through changes brought about by the Retail Distribution Review, particularly because it was the leading provider in the ...