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SLI boosts sales by 42%

Standard Life Investments saw sales rocket by more than 40 per cent in the six months to May after it won several new mandates.

Total sales rose by 42 per cent to £1.7bn from £1.2bn in the same period last year as funds benefited from the addition of mandates including the £220m segregated property portfolio of South Yorkshire Local Authority.

Assets under management rose to £80bn from £75bn while sales of mutual funds rose by 55 per cent to £207m from £134m.

It also completed the transfer of its Asian assets (excluding Japan) to Hong Kong in March and opened an office in Boston in April.

Several appointments were made over the period, including Rod Paris as head of global fixed income and Neil McPherson as head of European business development.

Chief executive Sandy Crombie says: “Funds under management have risen despite flat global markets and we have continued to strengthen our team. The consistency of our track record and our strategy of globalising both the investment process and the business ensures we are on course.”

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