External gross new business at Scottish Widows Investment Partnership (Swip) in 2010 was £3.1bn, the fund management company, which is owned by Lloyds Banking Group, said last week
A key contributor to this was a record £1bn of new business from its wholesale team. Total funds under management increased to £146.2bn from £141.7bn at end 2009.
During 2010 the manager also completed the integration of the HBOS heritage assets which entailed the transfer of over 300 funds and circa £50bn of assets. Profit before tax was £88m.
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