Standard Life Investments has reported a 21% growth in pre-tax operating profits during 2011, rising to £125m from £103m.
The asset manager saw total assets under management remain flat, slipping by just 1% to £154.9 billion from £156.9 billion.
However, there was a big fall in third party net inflows of wholesale and institutional business, which dropped by 31% to £4.3 billion from £6.2 billion.
Keith Skeoch, chief executive of Standard Life Investments, says: “Standard Life Investments is a premier asset manager with an expanding global reach.
“Our wide range of investment solutions is backed by our distinctive ’focus on change’ investment philosophy, disciplined risk management and shared commitment to a culture of investment excellence. This has proved itself to be robust and repeatable in both good and bad market conditions.
He adds: “We have an unbroken record of positive annual net flows over the last eight years and have delivered a strong track record of profitable organic growth. Earnings before interest and tax have a compound annual growth rate over the last five years of 14%.”