SLI third party business hits record levels

Standard Life Investments (SLI) increased assets under management in its third party business to a record level of £76.1bn in Q1, as a result of demand for fixed income and GARS, as well as positive market movements.

SLI saw net inflows of £1.1bn during the quarter in the UK and overseas, despite weak inflows across the market generally, leading to third party assets increasing to £4.3bn in total.  GARS was made available to US retail investors via a link with John Hancock Mutual Funds, and to Swedish investors via banking group Länsförsäkringar, which the group said contributed to growth. The group also expanded its capability with two ranges of MyFolio funds. SICAV sales also saw strong growth in Europe, said SLI, with net inflows up £253m. Standard Life said the prospects for SLI remain stro...