Standard Life Wrap boosted by record inflows

Skeoch Keith Standard Life Investments

Standard Life’s platform took a record £1.2bn in assets between July and September, taking total assets to £23.6bn.

The company’s latest results, published today, show assets under administration on the Standard Life Wrap are up 20 per cent year-on-year with wrap net inflows up 25 per cent to £3.3bn.

Standard Life’s UK and Europe business added 190,000 new customers for the year to date, and 70,000 in Q3.

The provider says this has been through auto-enrolment, prompting a 12 per cent increase in regular contributions into workplace pension schemes.

Meanwhile Standard Life Investments has seen wholesale and institutional net inflows more than doubling to £10.0bn in the third quarter of this year.

Inflows in the wholesale and institutional increased from £4.4bn in the same period last year.

Third party net inflows were at £5.3bn for Q3, increasing from £3.9bn year-on-year.

Overall assets under administration at Standard Life rose to £301.9bn, from £290bn this time last year, with 64 per cent of net inflows coming from outside the UK.

Multi-asset, including global absolute return strategies and balance funds, contributed to the growth in assets recording the strongest net inflows of £7.4bn over the period.

Standard Life chief executive Keith Skeoch says: “Standard Life has performed well against a backdrop of volatile investment markets.

“The strength of our propositions has helped our Wrap platform to achieve its highest ever quarterly net inflows and regular contributions into our workplace pensions are growing strongly. We remain well positioned with clients and customers to deliver growth as we continue to innovate and increase collaboration across our businesses.”