The RL UK Equity Income fund brought in the largest chunk of the new money at £637m, the RL Corporate Bond brought in £187m and RL Cash Plus funds contributed £144m.
Institutional net flows for the year were £837m including £296m into the RL Pooled Pension Credit Funds and the RL Cash Plus Fund.
Royal London’s Ascentric wrap platform posted net new assets of £1.242bn, down from £1.683bn in 2013. Total funds under administration at the end of Q4 2014 was with £8.87bn.
Total group funds under management were £82.3bn at 31 December 2014, an increase of 12% on 31 December 2013.
Despite the fall in net new assets for RLAM relative to 2013, for the group as a whole it was ‘a particularly pleasing set of results’ according to Phil Loney, group chief executive.