Ignis Asset Management has attracted £900 million of net inflows in the first half of 2013, including £344 million of net inflows into the £1 billion Absolute Return Government Bond Fund.
The company said that a greater percentage of net inflows came from higher margin products sold overseas.
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In its results covering the six months to 30 June 2013, the company posted an operating profit of £19 million, unchanged from the same period in 2012.
Net sales excluding liquidity products increased 57% in H1 while net sales overseas grew by 68%.
The company’s total assets under management fell to £66.9 billion in H1, down from £68.3 billion for the same period last year, driven by the natural run off of the closed life insurance business of parent company Phoenix Group.
Commenting on the results, Ignis Asset Management CEO Chris Samuel said the IFRS operating profit of £19 million represents a stable set of results and reflects continued progress in the implementation of the company’s plans for the business in particular to expand its third party franchise.
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By GlobalData"We plan to add to our range of absolute return funds by launching a hedge fund version of the Ignis Absolute Return Government Bond Fund, targeted primarily at more sophisticated institutional investors, and an Absolute Return Emerging Market Debt Fund. Both funds are due to launch to third party investors later this year," Samuel said.
