SLI UK sales increase five fold to £669m

Standard Life Investments (SLI) has reported a five fold increase in UK mutual fund net sales for 2009.

Sales grew to £669m for the year ending 31 December, up from £121m in 2008. The £2.2bn Global Absolute Return Strategies fund was the best selling vehicle with gross sales of £285m. UK funds under management increased to £109.8bn, up from £101bn in 2008. Overall, SLI reported a 67% rise in global third-party net sales to £5.7bn in 2009, up from £3.4bn. Over 80% came from outside the UK. Global third-party funds under management increased 25% to a record £56.9bn. SLI CEO Keith Skeoch says: "The ability to deliver good long term performance, despite volatile markets, demonstrates ...