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Standard Life Investments' £10bn inflow fuels 32% profit rise
by Dylan Lobo on Feb 27, 2014 at 07:56
Standard Life Investments posted a 32% rise in profit in 2013 on the back of a 66% jump in net inflows.
Overall profit for the unit stood at £192 million with inflows at £10.1 billion.
The firm's UK wholesale retail business recorded its highest annualised net sales in the industry in history and almost double its nearest competitor. This was largely driven by the continued popularity of its Gars strategy.
Assets under management rose by 10% to £184.1 billion, while revenue increased from £408 million to £521 million.
Standard Life chief executive David Nish (pictured) attributed the return to 'excellent' investment performance, the broadening of its geographical reach and an expansion of its investment offering.
'We remain very well positioned to deliver profitable growth. We are increasing our domestic and global presence and expertise across a range of asset classes while delivering consistently strong investment performance and strengthening relationships with our distribution partners,' the group said in a statement.
'We also continue to leverage our investment expertise to maximise opportunities and revenues for the wider group.'
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