Of these in inflows, the majority of wholesale flows, £745m, were in equity income and credit funds. Institutional flows of £569m included a new client, Hertfordshire County Council.
The asset manager’s Ascentric wrap platform saw a drop in inflows, where net new assets stood at £651m, compared to £813m in the same period last year. The platform currently has £8bn assets under administration.
"I am pleased with the trading momentum of the group during the first half of the year. Our aspiration is to build a business that delivers the best customer outcomes and experiences in the market and these results show that we are progressing towards that goal,” Phil Loney, group CEO, said.
He added that the outlook in the asset management arm of the business was looking bright.
“In our asset management business, new business acquisition remains extremely positive, especially in the wholesale sector. Just as importantly, we are experiencing high levels of retention in this area of the business, demonstrating that the growth we're seeing in asset management is long-term.”
