Ascentric sees net new business jump 46% to over £1bn

Ascentric, the Royal London-owned wrap platform, has seen net new business jump by 46% in the third quarter.

Reporting its interim results, owner Royal London said the wrap had seen net new business jump from £857m in Q3 2012 to £1.25bn in Q3 2013. The group said it was the third consecutive quarter of record new business, with the platform already exceeding the assets generated in 2012. In total, 800 more firms had signed up to use the wrap platform than over the same period last year, pushing up total AUM by 42% to £6.7bn, it said.