F&C Asset Management's AuM rises 3.7 per cent

F&C Asset Management's assets under management (AuM) for the first quarter rose by 3.7 per cent ahead of the previous quarter, on the back of strong investment performance and favourable foreign exchange rates.

The company reported AuM of £98.9bn at the end of the three months to March 31st, up from £95.2bn at the quarter ended December 31st.

The core Consumer and Institutional division's AuM increased by £2.0bn to £38.8bn, compared to £36.8bn the prior quarter.

"Good investment performance and favourable foreign exchange impacts combined with more buoyant markets increased AuM to £98.8bn at quarter end," Chief Executive Richard Wilson said.

"Gross flows into Consumer and Institutional of £1.6 bn continue to be encouraging and retail flows were a particular highlight."

Retail inflows improved to £468m and net inflows were £139m, driven by robust performance of product categories and refocusing the sales and marketing organisation in 2012.

The Strategic Partner arm's AuM jumped to £60.0bn as robust performance and foreign exchange factors offset moderate outflows.

Third-party institutional inflows of £0.9bn were up on the prior quarter and the comparable quarter of 2012, but were offset by outflows of £1.1bn. However, the pipeline of won but unfunded institutional business was up to £1.0bn from £0.8bn at the end of December.

Shares fell 3.27% to 97.50p at 11:29 Friday.

RD