23rd May 2016 07:42
LONDON (Alliance News) - Life insurer and investment manager Standard Life PLC on Monday said its assets under administration grew in the first quarter of 2016.
The FTSE 100-listed group, in a short statement ahead of its capital markets day, said its group assets under administration at the end of March totalled GBP314.0 billion, compared to GBP307.4 billion at the end of December.
Institutional net inflows in the quarter hit GBP1.5 billion, with total inflows from the company's growth channels at GBP2.3 billion. Meanwhile, GBP5.7 billion of the assets under administration movement was driven by market performance.
Standard Life shares were down 0.5% to 329.90 pence early Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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