Royal London fund inflows double but group profits dive

Net inflows into Royal London's mutual funds and pooled pensions doubled last year to £2.6bn. But ...

Net inflows into Royal London’s mutual funds and pooled pensions doubled last year to £2.6bn. But the overall Royal London group saw its net income fall to £181m compared to £431m in 2006 – a 60% fall. The group said the European Embedded Value method shows operating profit before tax was £147m, up from £116m in 2006. Funds under management were £33.1bn at the end of last year compared to £30.8bn a year before. A spokesman for Royal London Asset Management added that they are very pleased with the net inflow results given the market volatility last year.