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Standard sees third party investments up 23%

Standard Life Investments has reported third party net investment sales up 23 per cent to £7.9bn while UK net mutual fund sales rose 15 per cent to a record £1.5bn, up from £1.3bn last year.

The record figures, to year ended December 31, 2007 saw third party funds under management up 24 per cent to £47.7bn, from £38.6bn last year.

SLI’s total funds under management increased 8.5 per cent to £143.4bn.

Total net UK institutional sales rose 18 per cent to £3.9bn up from £3.3bn in 2006.

SLI chief executive Keith Skeoch says: “2007’s record levels have been achieved as a result of our highest ever institutional and mutual fund sales, strong inflows into private equity, and increasing sales in our main overseas markets of Canada, Europe and the Far East.

“It has been particularly pleasing that we have been able to deliver record results against a background of volatile markets and a global credit crunch.

“This demonstrates the confidence that investors have in our investment process, strong performance and the high service levels we strive to deliver, and that our clients have come to expect. External recognition of our people, processes, products and long term performance record continues to grow with SLI winning a record 13 industry awards during 2007.”

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