Standard Life Investments, the asset management arm of Edinburgh-based insurer Standard Life has seen a “defining decade,” whereby the firm reported a record breaking first half in 2014.
The first half of 2014 saw third party net inflows of £4.2 billion, record third party assets under management (AUM) of £108 billion, record total AUM of £195.1 billion and record operating profit before tax of £104 million. (See thewealthnet 05/08/2014)
It has been “a defining decade for Standard Life Investments which, despite some of the most volatile and challenging markets experienced in recent times,” has seen third party AUM increase over six-fold from £15.9 billon to £108 billion, said chief executive officer Keith Skeoch.
Standard Life Investments has seen an “unbroken decade” of third party net inflows with cumulative net inflows of £60.6 billion.
Third party net inflows from overseas clients increased from 3 percent to 57 percent over the decade.
Standard Life also notes that if the £59 billion worth of assets currently managed by Ignis Asset Management, which the firm acquired this year (See thewealthnet 26/03/2014), are included then AUM has actually increased over ten times in the last ten years.
“The addition of Standard Life Wealth and Ignis Asset Management present a great opportunity for us going forward. They will help deepen our investment capabilities, broaden our third party client base and strengthen our strategic position,” Mr Skeoch added.
“I am confident that as we look forward to the next ten years Standard Life Investments has the proven investment expertise and global distribution capabilities that will continue to deliver both superior investment performance and innovative solutions for our clients,” he concluded.