Standard Life assets rise 9% on strong sales
The Edinburgh-based firm also said new business sales for the nine months to 30 September jumped 20 per cent to £17.3bn, just shy of analysts’ forecasts of £17.4bn, while fee-based revenues grew 15 per cent to £1bn.
Chief executive David Nish said: “Standard Life has made good progress in the first nine months of the year, delivering substantial growth in net flows, assets and fee based revenue.”
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Hide AdNish said the group’s corporate business saw pension customers rise 195,000 to 1.4 million as more than 100 employers set up auto-enrolment pension schemes.
At Standard Life Investments, the firm’s fund management arm, third-party assets under management rose 13 per cent to £94.2bn, although this was lower than the £96.4bn forecast by analysts.