Standard Life has reported its assets under administration (AUA) reached £290bn in the first nine months of 2014, compared to £214.7bn as of 1 January 2014.
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The rise in AUA was driven by good net inflows of £4.3bn and acquisition of Ignis Asset Management.
Standard Life Investments year-to-date third party assets under management (AUM) increased by 82% to £158.9bn from £87.3bn in the same half of 2013 including £60.9bn of assets managed by Ignis.
The increase in Standard Life Investments third party AUM was driven by third party net inflows of £4.6bn, the company said in a statement.
Overall, Standard Life group’s total AUM the first nine months of the year from continuing operations increased by 42% to £240.7bn from £170.1bn as of 1 January 2014 boosted by the acquisition of Ignis Asset Management and the proposed disposal of Canadian operations.
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By GlobalDataThe group’s year-to-date fee revenue was increased by 13% to £1,032m.
Standard Life said that the proposed sale of its Canadian business, which is expected to complete early in 2015 subject to regulatory approval, will increase its focus on fee-generating business and will enable it to return £1.75bn of capital to shareholders.
David Nish, CEO of Standard Life, said: "Standard Life has continued to perform well driven by a focus on delivering value for money for our customers and clients.
"We are also strongly placed to deal with the far-reaching reforms to the savings and retirement income rules, announced earlier this year by the UK government, and to support customers through these changes."
