View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
March 31, 2017

RLAM gross inflows surge to £6.7bn in 2016; AuM reaches £100bn

Royal London Asset Management (RLAM), the asset management unit of Royal London, has registered gross inflows of £6.7bn during the year 2016, a surge of 116% compared to £3.1bn a year ago.

By Verdict Staff

Royal London Asset Management (RLAM), the asset management unit of Royal London, has registered gross inflows of £6.7bn during the year 2016, a surge of 116% compared to £3.1bn a year ago.

The inflows came from both institutional and wholesale markets, Royal London said.

The funds under management totalled £100bn at the end of 31 December 2016, an 18% increase from £85bn in 2015. The company said that the increase was partially driven by rising bond values reflecting a reduction in interest rates.

Ascentric wrap platform’s assets under administration reached £12.3bn in 2016, a 22% surge compared to £10.1bn a year ago. The business’ gross sales rose to £2.3bn during the period from £2.5bn a year earlier.

Overall, the group’s European Embedded Value (EEV) operating profit rose 16% to £282m in 2016 from £244m in the previous year. The group said that the growth was supported by strong new business profit of £223m particularly in Pensions, Consumer and RLAM.

Royal London group CEO Phil Loney said: “These results reflect the continued excellent progress of Royal London in 2016, performing well despite the backdrop of a turbulent year in politics and markets.

"It is clear from the sustained track record of growth that our strategy is working: we are delivering high-quality products and service; we are investing in our capabilities, making it easier for advisers to do business with us; and we are entering new consumer markets to offer better value where we see that the market is delivering a poor deal for consumers.”

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International