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SLI sees record first half profits

Standard Life Investments has recorded its strongest first half sales figures with profits before tax up 43 per cent to £40m.

UK net mutual sales also rose by some 63 per cent to £1.1bn, compared to £683.5m for the first half of 2006, while worldwide net investment sales reached £5.6bn signalling a rise of 59 per cent on the previous year.

Total net institutional and third party funds under management were also up 40 and 20 per cent respectively from the same point 12 months ago as the firm saw its total funds under management increase by £8.5bn to £140.6bn.

SLI chief executive officer Keith Skeoch says: “The first half of 2007 has been an exciting time for Standard Life Investments which continues to grow from strength to strength achieving record levels of profit, sales, and funds under management. Continued investment performance has helped drive substantial retail and institiutional third party mandate wins.

“Sales of our mutual fund products have increased dramatically. SLI enjoyed its strongest six months yet for mutual fund sales, £1.1bn with may being the strongest sales (£190.9m) month in the history of the company.”

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