View more on these topics

F&C reports £1.5bn net outflow for Q1

700x450 Business-Portfolio-pen-paper

F&C Asset Management suffered net outflows of £1.5bn in the opening three months of the year after stronger retail flows were offset by strategic partner withdrawals.

The group’s interim management statement to 31 March shows £1.3bn was withdrawn from its strategic partners business. It adds that life company Achmea plans to withdraw £10.3bn from this area when its exclusivity terminates at the end of October.

F&C saw net inflows of £139m in its retail business over the three-month period although its wholesale business witnessed net outflows of £178m – mainly related to flows out of the Thames River Capital Global Credit, Global Bond and Multi-Alternative funds.

Despite posting outflows for the quarter, F&C’s assets under management rose 3.8 per cent over the three months from £95.2bn to £98.8bn. The group attributes this to more buoyant markets, strong investment performance and favourable foreign exchange trends.

F&C chief executive Richard Wilson says: “Good investment performance and favourable foreign exchange impacts combined with more buoyant markets increased assets under management to £98.8bn at quarter end.

“Gross flows into consumer and institutional of £1.6bn continue to be encouraging and retail flows were a particular highlight. Strategic partner assets performed satisfactorily and we expect further clarity on the future profile of this business as the year progresses.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm