Standard Life sales double in UK wholesale business

WarehouseAsset management house Standard Life Investments (SLI) says net sales in its UK wholesale business in the first half of 2011 more than doubled year on year.

The firm's net sales were £1,457m (€1,668m), a 104% increase, while gross sales were up 90% to stand at £2,766m.

The group’s Q2 net retail sales were ranked second highest among all UK fund management groups in Fundscape’s quarterly Pridham Report, representing a growth in its retail gross market share from 2.5% to 4.1%.

As in H1 2010, SLI’s top grossing fund was the Global Absolute Return Strategies Fund (GARS). Jacqueline Kerr, head of UK wholesale, said: “GARS has continued to lead the way in generating strong net inflows and no doubt recent market turmoil will have reminded investors of the importance of seeking equity-style returns with less volatility.”

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