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Standard Life net inflows triple in first quarter

Standard Life’s net inflows for the first quarter were more than triple the level seen over the same period in 2009, increasing from £0.6bn to £2.1bn.

The insurer has also seen a 22 per cent increase in assets under administration on its platform quarter-on-quarter from £3.6bn in December to £4.4bn.

Long-term savings sales were up 30 per cent year-on-year from £3.6bn in 2009 to £4.4bn.

Sipp assets under administration were up 9 per cent quarter-on-quarter from £11.8bn to £12.8bn.

Chief executive David Nish says: “Standard Life has made a strong start to 2010, with increased net inflows and a continued growth in assets. These results underline our belief that the UK market is a great place to do business.”

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