SLI inflows hold up over volatile quarter

Net inflows to Standard Life Investments (SLI) held up over the highly volatile third quarter, with the Edinburgh-based asset manager pulling in £3.5 billion.

The increase takes SLI's fee business to £69.1 billion, as at 30 September.

The group's GARS strategy has continued to contribute positively to SLI's numbers, and David Nish, the investment manager's chief executive, told investors that the popular strategy has now amassed more than £11.5 billion in assets, with continued demand from UK and European clients.

Although investment conditions have proved difficult for a number of investment houses, Nish used SLI's third quarter update to reassure investors that key parts of the business are performing.

'With RDR approaching quickly, our retail fee business continues to perform well with gross inflows up 6% to £5.2 billion in the first nine months of the year (2010: £5.0 billion). Despite the significant levels of volatility in financial markets gross inflows in the quarter were up 1% to £1.5 billion (2010: £1.5 billion),' Nish (pictured) said, adding that net inflows in the first nine months of the year had increased by 51% to £689m.

Moreover, Standard Life Wealth, the group's discretionary arm, is continuing to build a presence in the IFA market, following on from the launch of its managed portfolio service.  Assets under administration in the division now stand at over £800 million.