In a performance update issued today, parent company Royal London said RLAM had added £2.3bn in net flows, versus £1.9bn in the first half of 2015.
Royal London’s wrap platform Ascentric saw assets under administration move marginally higher over the six months to £10.8bn from £10.1bn at 31 December 2015.
“RLAM recorded a strong performance in the first half of 2016 with good gross and net inflows in sharp contrast to others in the asset management sector,” said chief executive Phil Loney. Institutional business was particularly strong, with a number of new clients investing in the credit and government bond portfolios in particular.”
Royal London said the new business momentum achieved in the second half of last year in its UK intermediary protection business continued in 2016 with record sales results.
The parent company reported new life and pensions business up by 39% to £4.2bn, a new record for Royal London. Funds under management were up by 11% to £93.8bn.
