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F&C reports £1.7bn jump in assets

F&C has reported a £1.7bn jump in assets under management in first quarter of 2012.

Assets under management jumped from £100.1bn at December 31, 2011, to £101.8bn at March 31, 2012.

The firm says the increase of assets was down to higher equity and fixed income market levels as well as a small increase in net flows into its retail range.

The increase in assets comes despite net outflows across numerous parts of the business in Q1. These include a £972m of outflows from its strategic partners and £743m of outflows from its consumer and institutional range. However, both section saw assets under management increase overall.

The retail arm reported a 6.8 per cent increase in assets under management to £4.9bn at the end of Q1 on the back of improved markets. The group reported net inflows of £13m for its retail arm compared to £122m of outflows in Q4, 2011.

F&C is currently undergoing the second stage of its strategic review, which covers its wholesale, retail, investment trust and property businesses. It is expected to announce its results next week.

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