Much of the growth comes from the launch of the group’s select property fund, which reached £1bn in size 15 months after it was originally launched.
Total net worldwide investment sales grew by 16 per cent increasing to £6.4bn from £5.5bn, while total UK institutional sales drew net inflows of £3.3bn, an increase of 24 per cent from 2005.
This growth of institutional inflows was largely due to the group’s investment arm working in conjunction with the UK life and pension operation to acquire an £840m mandate – the largest in the company’s history – from Citigroup to provide an investment platform for four defined contribution schemes.
Third party funds under management also rose by 32 per cent to £38.5bn, while the group’s total funds under management increased by 11 per cent to £132.1bn from £118.8bn.
Standard Life Investments CEO Keith Skeoch says: “This growth has largely been down to two factors – the ability to attract new clients through strong investment performance, in both institutional and retail space, and our success in retaining mandates based on excellent levels of client service.
“We have continued to diversify our business and now have clients in 26 countries across the world. Extra resource has been allocated to help grow our business in Europe and a strong track record is beginning to emerge in what we see as ‘category killer’ products – global equities, global bonds, global property and private equity. These developments should ensure that Standard Life Investments can compete with the very best, not just in the UK but beyond.”