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Investors continue to flock to Gars as SLI breaks records
by Dylan Lobo on Oct 30, 2013 at 08:00
Standard Life Investments may have lost key figures in its Gars team this year but investors continue to be attracted to its multi-asset suite.
The firm, which lost a three-strong team to Invesco Perpetual and Gars architect Euan Munro to Aviva Investors, drew net inflows of £1.1 billion to its multi-asset range in the third quarter, accounting for virtually all of the £1.2 billion inflow the firm registered over the period. Overall inflows stood at £8.3 billion in the nine months to the end of September.
The quarter saw Gars extend its global reach with the strategy registered for sale to German retail investors and it proved particularly popular in the US market, where assets under management at John Hancock Gars rose by 150% over the course of the year to stand at £2.5 billion.
This together with positive market movements helped SLI’s assets under management rise from £83 billion at the end of last year to a record £94.2 billion.
Elsewhere assets under management at Standard Life Wealth jumped by £3.2 billion to £5.5 billion thanks largely to the acquisition of Newton’s private client business.
The performance of the fund and wealth business contributed to a strong year for parent Standard Life, where assets under administration rose by 9% to £237.6 billion.
‘Standard Life has made good progress in the first nine months of the year, delivering substantial growth in net flows, assets and fee based revenue,’ Standard Life chief executive David Nish (pictured) told the stockmarket.
‘Standard Life Investments has delivered strong net inflows, excellent investment performance as well as expanding its product range and geographic reach, while continuing to grow revenue in the third quarter. Our multi-asset solutions continue to attract good net inflows.’
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