RLAM thanks RDR as inflows rise 199% in H1

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Royal London Asset Management saw net inflows rise 199 per cent in the opening half of 2013 after claiming to be one of the beneficiaries in the post-RDR industry.

The interim results of parent company Royal London show the fund management business captured £308m in new money over the six-month period – reversing the £310m net outflow that was recorded one year earlier.

Meanwhile, the group’s wrap platform administrator Ascentric witnessed record new business levels of £813m in the first half, up 39 per cent from the £587m of the same period in 2012.

Royal London chief executive Phil Loney cites the implementation of RDR at the start of the year as having a beneficial effect on the company’s flows.

“RDR has fundamentally changed the adviser landscape for savings and investment business,” he says.

“There is now no potential for commission levels to bias new product advice given in the market, and our focus on the quality of proposition and service for customers and their advisers sits behind the strong growth that we are seeing in our pension, wrap and external fund management sales.”