31st Jan 2006 07:01
F&C Asset Management PLC31 January 2006 Assets Under Management The tables below disclose Assets Under Management (AUM) at 31 December 2005 andan update on funds flow for the year to 31 December 2005. Further comment andanalysis will be contained within the Annual Report and Accounts. 1. Assets Under Management 31 December 2005 30 September 2005 £bn £bn Insurance Funds 79.2 78.7 Institutional Funds 34.6 34.2 Investment Trusts 6.9 6.6Open Ended Products (3rd Party) 2.7 2.6SICAV's 0.5 0.6Sub-Advisory 7.1 6.7 Total Retail 17.2 16.5 Total 131.0 129.4 31 December 2005 30 September 2005 •bn •bn Insurance Funds 115.2 115.8 Institutional Funds 50.4 50.1 Investment Trusts 10.0 9.7Open Ended Products (3rd Party) 3.9 3.8SICAV's 0.8 0.9Sub-Advisory 10.4 9.8 Total Retail 25.1 24.2 Total 190.7 190.1 2. Assets Under Management 31 December 2005 30 September by Asset Class 2005 £bn £bn Fixed Interest 72.8 72.5 UK Equities 19.4 19.0 Overseas Equities 25.8 25.7 Property 6.5 6.4 Other Alternative Investments 1.2 1.2 Liquidity 5.3 4.6 Total 131.0 129.4 31 December 2005 30 September 2005 •bn •bn Fixed Interest 106.0 106.4 UK Equities 28.2 28.0 Overseas Equities 37.6 37.9 Property 9.4 9.3 Other Alternative Investments 1.8 1.8 Liquidity 7.7 6.7 Total 190.7 190.1 3. Fund Flows Fund flows for the quarter to 31 December 2005 Client Category Inflows Outflows Net £m £m £mInsurance Funds (note1) N/A N/A (906)Institutional 1,897 (1,769) 128Open Ended Products (Third Party) 91 (46) 45Investment Trusts 65 (370) (305)SICAV's 89 (95) (6)Sub Advisory 901 (741) 160 N/A N/A (884) Fund flows for the year to date 31 December 2005 Client Category Inflows Outflows Net £m £m £mInsurance Funds (note1) N/A N/A (6,577)Institutional 4,523 (5,482) (959)Open Ended Products (Third Party) 367 (211) 156Investment Trusts 1,144 (690) 454SICAV's 517 (530) (13)Sub Advisory 2,511 (1,711) 800 N/A N/A (6,139) Notes: 1) The insurance fund outflows predominantly represent outflows in respectof closed books of business, which will attract a consideration rebate.Resolution fund withdrawals contributed £0.3bn to the total insurance outflowsin Quarter 4, 2005 and £5.2bn for the year. As at 31 December 2005, AUM include£19.9 billion of Resolution funds, which as previously announced, are expectedto be withdrawn in their entirety by Resolution during Quarter 1 2006. Thewithdrawal of these funds will result in the F&C Group being entitled to anagreed £27 million of compensation from Resolution. 2) The AUM figures for the period to 30 September 2005 have been revised tomore accurately classify the split between client categories. This has noimpact on the total funds managed but results in a reduction in insurance fundsof £1.2 billion, a reduction in institutional funds of £0.1 billion and anincrease in total retail funds of £1.3 billion. 3) The AUM figures for the period to 31 December are stated on the revisedbasis and all future disclosures will be consistent with the definitions nowbeing applied. 4) The board of F&C Asset Management plc believe that this quarterlyreporting arrangement, when taken together with the Annual Report, Half YearReport and other releases as appropriate, allow greater clarity andunderstanding of the revenue implications of fund movements that are relevant tothe company's financial performance. The content of quarterly businessannouncements will continue to be factual and explanatory, neither giving (norintending to give) any indication of current or future trading. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Fondul Proprietatea