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Standard Life Investments seals Ignis buy in £390 million deal

by Dylan Lobo on Mar 26, 2014 at 07:12

In a separate results announcement, the firm said it had attracted a record £1.9 billion in net inflows in 2013, exceeding the £1.6 billion achieved in 2012, while combined UK wholesale and European net sales, excluding liquidity, increased more than threefold year-on-year.   

The firm's liquidity products attracted an additional £420 million of net inflows in 2013.

According to the group, 85% of assets outperformed their respective benchmarks and peer groups in 2013 compared to 79% in 2012 and 73% in 2011.

As at the end of 2013, the firm managed £59 billion in assets and earned revenues of £150 million, generating Ebitda of £52 million.

In a statement, Ignis chief executive Chris Samuel said: 'I am pleased to report a strong set of financial results for the full year 2013. During the year the business made significant progress against its stated objectives in particular through the delivery of robust investment performance.'

He added: 'I have been delighted with the progress that the business has made since 2009. We have invested in talent and refocused the business which has resulted in improved investment performance, net sales and profitability.

'Ignis is now ready to move on to the next phase of its development by way of a combination with Standard Life Investments. Standard Life Investments will inherit a strong range of products and investment capabilities and a group of talented individuals who will be an asset to the merged business. I am delighted that the business is being handed over in such excellent shape.'

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