Net funded external sales in the first six months of 2012 were £1.6bn compared to £2.5bn in the equivalent period last year. These figures do not include liquidity funds. But they do include around £0.5bn of redemptions following the realignment of its business earlier in the year to move away from European institutional business.
Total funds under management for Aviva Investors grew by 4% to £274m, from £263m. As a group, total funds under management crept up to £342bn from £337bn.
It described its investment performance as “robust”.
Profits fell from £39m to £34m as a result of reduced performance fees and the sale of its Australian operation during the third quarter of last year.
The Aviva Group announced an after-tax loss of £681m representing a swing of more than £1bn given in H1 last year it reported a profits of £465m.
It continues its strategic plan – designed to generate cost savings of £400m – that has already cost the jobs of its group chief executive Andrew Moss and the chief executive of Aviva Investors Andrew Dromer.
