Cholwill's Income fund helps drive RLAM inflows

Royal London Asset Management (RLAM) saw rising net inflows for the nine months to 30 September, driven partly by the performance of its equity income and credit funds.

The asset management arm of the life company reported net new external business of £1.6bn, up 11% from £1.5bn in the same period last year. Wholesale net flows of £881m were predominantly into its credit and income funds, including Martin Cholwill's £1.4bn RL UK Equity Income fund. Institutional net flows of £739m included around £296m into the RLPPC Credit fund and various charities and local authorities investing into the Cash Plus fund.   The Ascentric platform posted a 22% fall in net new assets to £976m, although total assets under administration climbed 25% to £8.4bn. Total...