Royal London Asset Management saw new inflows of £4.8bn, 92 per cent on the £2.5bn seen this time last year, driven by institutional business investing in the Fixed Income range.
Total group funds under management are up 20 per cent from £84.5bn to £101bn.
Ascentric saw a 16 per cent drop in gross sales from £1.9bn to £1.6bn, though assets under administration grew 17 per cent from £10.1bn at the end of last year to £11.8bn as at 30 September.
Group chief executive Phil Loney says: “Reaching this significant funds under management milestone reflects growth by acquisition and organically, as well as the expanded fund range developed by our asset management arm over the past five years.
“At the end of December 2011 funds under management were £46.2bn.
“The impressive growth demonstrates the commitment to growing institutional and wholesale assets through innovation in the credit and multi asset capabilities as well as the success of our award–winning pensions range for individual and workplace pensions.”