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SLI sees net inflows in first quarter

Standard Life Investments achieved worldwide net inflows of £600m in the first quarter of 2009 after a £2.2 billion net outflow in 2008.

The firm’s interim management statement notes that despite failing to rival the record £2.3 billion of net inflows it saw in the first quarter of 2008, it still managed to maintain inflows amid market volatility.

However, it did not specify operating profits for the quarter.

Sales into British mutual funds stood at £184m during the quarter, a figure Standard Life describes as “modest” but an increase over the figure of £21m for the same quarter last year.

Third party assets under management fell by 3% during the quarter to £44.2 billion, while total assets under management fell 5% to £117.7 billion.

Standard Life, the parent company of Standard Life Investments, said net sales were down 20% to £30.6 billion worldwide, and down 27% at £2.5 billion in Britain, partly owing to a decision not to renew lower margin bulk investment bond deals. Its life and pensions business saw worldwide net outflows of £26m after net inflows of £931m in 2008.


M&G restructures bond fund

M&G is changing the structure of its Global Macro Bond fund to make it more easily accessible to fund of funds managers.

Family features

The arrival of a provider of the magnitude of Axa Winterthur into the family Sipp sector looks certain to catch the eye of IFAs keen to give clients an advice-rich experience. Clients wanting to reduce their inheritance tax bill will also find the concept appealing.


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