Long-term savings drive Q1 beat at Standard Life

Insurance giant Standard Life has beaten analysts' predictions by delivering strong sales and group assets under administration in its first-quarter interim management statement.

Insurance giant Standard Life has beaten analysts' predictions by delivering strong sales and group assets under administration in its first-quarter interim management statement.

The group recorded a 24% increase in long-term savings sales to £6.3bn and a 26% increase in long-term savings net flows to £1.4bn in the first quarter. This compared to £5.0bn and £1.1bn respectively one year earlier.

Advertisement - Article continues below

The group said that sales benefited from the implementation of auto enrolment for a number of existing clients as well as new schemes in the UK, an increase in UK institutional pensions and higher corporate pensions sales in Canada.

Standard Life Investments also had a strong start to the year, with third party net flows up over 160% to £3.0bn, which, together with positive market movements, helped to drive third party assets under management to £90.4bn.

David Nish, Chief Executive Officer at Standard Life, commented:"Standard Life has made a strong start to 2013, growing sales, net flows and assets. Standard Life Investments reinforced its position as a leading asset manager, delivering a very strong first quarter."

He added: "This included reaching a record level of third party assets, which now represent over 50% of total assets under management, a more diversified asset mix and increased geographic reach."

Standard Life's share price was up 4.06% to 366.80p at 08:22 on Wednesday.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020