Assets under administration (AUA) at life assurance leviathan Standard Life rose a bit more than the market had been expecting in the first quarter of 2012.
Standard Life's gross AUA at the end of March stood at £206.8bn, up from £198.4bn at the end of 2011, and ahead of market predictions of £204.5bn.
Standard Life Investments third party assets under management (AUM) of £76.1bn were up from the year-end figure of £71.8bn.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group notched up long-term savings new business sales of £5.0bn, with the UK performing well, but this failed to match the £5.8bn of sales in the first quarter of last year.
Long-term savings net inflows of £1.1bn2 (2011: £1.3bn2) included strong flows into institutional pensions, driven by demand for the firm's Global Absolute Return Strategies proposition.
JH
-
A strange calm in creditCorporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks
-
The City's big bet on green finance fails to pay outOpinion Insurers and banks are backing away from “green finance”, and there is not much sign of the green boom we were promised. That’s a problem for the City
