UK - Standard Life Investments' record funds under management high of £95.7bn at the end of 2004 was attributed to "rapidly growing" sales of UK institutional business.
Announcing the new high of £95.7bn and an additional record third party funds under management of £18.3bn, Keith Skeoch, chief executive, said: “Our third party funds under management, £18.3bn, driven by strong UK institutional business, have more than tripled since we launched in November 1998 and are up almost 20% compared to 15 November 2003.
“The UK institutional team have achieved record sales of £1.8bn (a 20% increase compared to the 12 months to 15 November 2003).
“It is clear that the team’s expertise and impressive track record is being recognised by an ever increasing number of clients from within both the public and private sector… We look forward to winning more mandates in 2005.”
Skeoch said performance had been strong across all the main asset classes with over two thirds (14 out of 20) of the firm’s corporate pooled pension fund range beating the peer group over the twelve months to December 31, 2004, according to Russell/Mellon statistics.
Segregated funds under management rose 40% to hit £2.8bn while new business doubled to a record £842m, compared with the previous financial year, he added.
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