SLI on cloud nine with funds reaching £96bn |
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Published
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Wed, 23 Mar 2005 01:00
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Standard Life Investments, the fund management arm of the Edinburgh-based life assurer is flying high with its worldwide investment sales rise up a massive 12 per cent in the past 'challenging but highly successful business year', as SLI put it.
SLI reported increase in worldwide investment sales in 2004 to £3.7 billion, as compared to £3.3bn in 2003. Besides, UK institutional business went up 20 per cent to £1.8bn along with having eight new accounts and UK mutual funds saw 6 per cent hike to £364 million. Third party funds under management had also shot up 20 per cent to reach £18.3bn making total funds under management rise by 10 per cent to almost £96bn against £87bn in the earlier year.
| Keith Skeoch, the chief executive of SLI, spoke about the dynamic performance of the company and said that such an accomplishment only implied the business’s strength. He significantly stated that this was just the beginning and there was a long way to go before acquiring new business in 2005.
The corporate pension fund market in the year 2004 also saw SLI surface as a top 20 player with 70 per cent (14 out of 20) of its corporate pooled pension fund range defeat other contemporaries in the past year. What’s more, the company’s £2.7bn UK equity fund, the second biggest of its kind, recorded top quartile performance once again following top quartile achievements over one, three and five years now.
Furthermore, total private equity assets under management rose to £1.8bn, up over 14 per cent on 2003, including the successful first close of SLI’s latest private equity fund, funds of European Strategic Partners 2004. Even overseas, SLI’s Canadian sales rose to £627m, with Canadian mutual sales rising more than 46 per cent to £204m.
Besides, the fund manager won a number of accolades as well in the past year, including the investment provider five-star award for the ninth consecutive year.
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