Gross inflows reached £2.26bn compared to £1.36bn in 2011, but gross outflows swelled from £984.1m in 2011 to £1.98bn last year. Its net inflows totalled £286.3m, down 24% on the £379m reported for 2011.
Funds under management increased 8% during the period, and stood at £47.6bn by the end of 2012.
Its Ascentric wrap platform, meanwhile, recorded an 8% drop in new assets under administration, to £1.21bn. Its total AUA was up 41% to £5.15bn.
Phil Loney, Royal London group chief executive, said: “We have delivered a good financial performance in 2012, with high levels of new business sales and good underlying levels of profitability across the group.
“The results are indicative of the strengths we have in the market, our commitments to our members and policy holders and our core focus in delivering a strong and meaningful mutual alternative in the UK life and pensions and asset management markets.”
Last week it was announced that RLAM has acquired the Co-operative Banking Group’s life insurance and asset management business in a deal worth £219m.
