UK - Standard Life saw its UK institutional business rise 20% in 2004 to £1.8bn, according to the firm's annual results.
Chairman Hugh Stevenson described the year as “challenging but highly successful” with funds under management up more than 10% to almost £96bn at year-end, compared to £87bn in November 2003.
“Sales have been particularly strong with UK institutional business hitting record levels, up 20% compared with the previous year,” he said.
UK institutional business surged to a record £1.8bn with eight new segregated accounts, the firm said.
“In addition to this, private equity, money market funds, mutual funds and Canadian sales have all increased on the 2003 figures,” Stevenson said.
Standard Life said performance had been strong across the main asset classes with 70% of its corporate pooled pension fund range beating the peer group over the twelve months to 31 December 2004.
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