Edinburgh-based Standard Life Investments' (SLI) UK mutual fund range has broken through the £10bn (€11.46bn) barrier after a record-breaking tax year-end in 2011.
During the first three months of the year, the asset manager’s range of UK mutual funds saw gross sales increase by 150% to £1.47bn. Gross sales in Q1 2010 were £588m.
Net sales increase by over 260% to £808m (Q1 2010: £223m).
The top five grossing funds during the first quarter of 2011 were the Global Absolute Return Strategies Fund, the UK Smaller Companies Fund, the Global Index Linked Bond Fund, the MyFolio Managed III Fund and the UK Equity Unconstrained Fund.
Jacqueline Kerr, head of UK wholesale at SLI, said the figures showed that the business, which has total assets under management of £157bn, was well on track with its ambition of taking its institutional expertise into the UK wholesale market.
©2011 funds europe