Royal London Asset Management inflows fall in rocky markets

Loney-Phil-RLAM-2012-500x320.jpgRoyal London Asset Management saw a drop in gross inflows for the year, to £3.1bn.

In its latest results, released today, the asset manager saw gross new business inflows fall from £3.8bn in 2014, amid “turbulent market conditions”, the asset manager said.

Total group funds under management hit £84.5bn at the end of 2015, compared to £82.3bn a year earlier.

Ascentric, the group’s wrap platform, saw assets under administration rise 13 per cent in the year, to £10.1bn. Gross sales at the platform rose from £2.2bn in 2014 to £2.5bn last year.

At a group level Royal London’s pre-tax profits rose 11 per cent last year, from £220m in 2014 to £244m in 2015.

Royal London chief executive Phil Loney says: “The last year saw a record breaking trading performance, which brought with it a healthy increase in operating profit. New business growth was particularly strong, with sales of group pensions and income drawdown products going from strength to strength.”