Aviva Investors: Internal assets drive £1.7bn net outflow
External net inflows were £600m for the nine months to 30 September
External net inflows were £600m for the nine months to 30 September
Group revenue increased by 23.7% in the six months to 30 September 2024
Group warned of Q4 £8bn outflow from legacy Scottish Widows mandate
Core net inflows of £1.5bn, representing 5% of opening assets under management and advice
Total outflows increased to £2.1bn in the first half of its financial year
IFRS losses after tax amounted to £56m, compared to a £309m profit during H2 last year
Company also achieved a 28% increase in adjusted profit
The business was impacted by outflows and lower margins in its Investments arm
Underlying net outflows were just £0.2m, excluding the impact of the departures, with positive flows in retail and wholesale
Liontrust’s suite of funds saw net outflows of £6.1bn during the year
The firm’s group revenue for 2023/24 increased by 13.9%
Group publishes its half-year results to 31 March 2024