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SLI reports 41 per cent increase in pre-tax profits

Standard Life Investments has announced a 41 per cent increase in pre-tax profits in 2010.

The firm unveiled profits of £103m in 2010 compared to £73m in 2009.

Total assets under management grew by 13 per cent to £156.9bn from £138.7bn at the end of 2009.

The company put the rise in operating profits down to increased third party new business flows into high margin products such as its global absolute return strategies fund and UK mutual funds as well as a substantial increase in average market values.

Increase in total assets under management is attributed is also attributed to the firms GARS proposition which they say achieved a 39 per cent share of 2010 sales within the absolute return sector.

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