Royal London AM reports jump in managed assets

By Sam Shaw

Added 4th November 2016

UK investment house Royal London Asset Management (RLAM) has announced that total funds under management by the group has exceeded £100bn for the first time.

Royal London AM reports jump in managed assets

Total funds under management grew by 20% to £101bn ($125bn, €112.6bn) in the year to 30 September 2016, up from £84.5bn for the previous year, which it said was a “particularly good result” when many of its peers were experiencing high net outflows.

Chief executive Phil Loney also said the business had held up well against the volatile backdrop as a result of the uncertainty surrounding the UK’s membership of the European Union.

He said: “The combination of new businesses inflows in our asset management and pensions business and rising asset values, means that Royal London for the first time has more than £100bn in funds under management.

Institutional sales have been particularly strong and wholesale business has held up well through the volatility stemming from the UK referendum on EU membership.”

Expanded range boost

Royal London said credit and multi-asset strategies have driven much of the group’s growth in assets under management (AUM).

On the £100bn figure, Loney added: “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.”

Investment platform Ascentric reported a decline in gross sales from £1.9bn in the year to 30 September 2015 to £1.6bn, while assets under administration grew by 17% from £10.1bn to £11.8bn.

Intermediary growth

Total intermediary new life and pensions was up by 28% to just over £6bn, while group pensions were up by 50% to just less than £2.9bn.

Individual pensions and drawdown was up by 11% to £2.7bn and intermediary protection increased by 22% to £440m.

Royal London said its rebranded whole of life product had been “very well received” and it boasted its highest ever market share of the Irish protection market due to its product innovation.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

Features

Critical illness cover the next big opportunity for advisers

Critical illness cover the next big opportunity...Lock icon

Imagine your client owned a goose that laid a golden egg every month, says Chris Bagnall, chief underwriting officer and head of claims at Zurich International Life.

Analysis

Profiles

Directories

Canada Life International Limited
Canada Life International...

Canada Life International Canada Life House,...

Tweets

Events

IA Best Practice Adviser Awards UK 2017
IA Best Practice Adviser Awards UK 2017

3 May 2017
Waldorf Hilton, London

IA Product & Service Awards 2017
IA Product & Service Awards 2017

Wednesday 3 May 2017
The Waldorf Hilton, London 

Sponsored Content

Investment Strategy

OTHER STORIES FROM LAST WORD...