In its 2012 first half results announced this morning, Standard Life Wealth revealed total assets under management of £1.36bn, up from just below £1bn at the end of last year.
The results are a combination of its investment solutions businesses, made up of MyFolio, run by head of fund of funds Bambos Hambi, and a Managed Portfolio Service run by Standard Life Wealth’s chief investment officer Eddy Reynolds. Both are well-placed given the higher profile given to outsourcing of investment by intermediaries in the run-up to RDR.
MyFolio assets now stand at £1.5bn.
Richard Charnock, chief executive of Standard Life Wealth, commented: “The customer focus across all of our investment solutions, which are managed in a manner that is appropriate to the risk level or financial goal of our customers, continues to deliver strong results for clients across retail, corporate and direct markets.”
Standard Life Investments also saw increased inflows from third parties, of £0.6bn (down from £2.9bn in the first half of last year), with assets under management rising to £74.3bn from £71.8bn at the end of 2011.
UK mutual fund inflows add up to £966m compared to £1.46bn in the first six months of last year. Outside the UK, investment business continues to grow particularly in Europe, the US, Sweden and Switzerland, with £1bn of net flows during the reporting period.