29th Apr 2015 06:43
LONDON (Alliance News) - Standard Life PLC Wednesday said its assets under administration increased by 5% in the first quarter of the year, citing net inflows and positive market movements.
In a statement, the life and investments company said assets under administration increased to GBP311.9 billion from GBP296.6 billion during the three months ended March 31. Net inflows amounted to GBP2.9 billion as gross flows more than offset redemptions, while market movements added another GBP12.4 billion to assets under administration.
Standard Life Investments total third party assets under administration increased to GBP170.1 billion from GBP161.3 billion, while UK and Europe assets under administration rose to GBP153.3 billion from GBP145.9 billion.
"We remain very well positioned to deliver ongoing growth. We have the products, expertise and proven investment performance to help our customers and clients to save and invest, so that they can look forward to their financial futures with confidence," Chief Executive David Nish said in a statement.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
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