SLI inflows drop 43% as profits increase

Standard Life Investments has seen net inflows fall 43 per cent to £4.2bn in the first half of 2014, down from £7.4bn in the same period last year.

Despite the inflow drop SLI boosted its pre-tax profit by 9 per cent to £104m, up from £100m in the same period in 2013.

SLI’s risk-rated range MyFolio saw assets jump 20 per cent to £4.8bn from £4bn the previous year.

SLI says it expects to see two mandates of around £3.2bn disinvest in the third quarter but says they are low revenue and will only have a “negligible” impact.

The acquisition of Ignis Asset Management was completed in March in a deal worth £390m, SLI says Ignis will be earnings accretive by the end of the year.

Assets under management rose 5 per cent to £108bn, up from £102.4bn in 2013.