SLI mutual fund net inflows double in H1

Standard Life Investments more than doubled its UK mutual fund net inflows in the first half, achieving net sales of £713m over the six-month period.

The group saw £1.46bn of gross sales into its mutual fund range over the first six months of the year, with £744m of redemptions. The majority of the inflows surprisingly came in the second quarter, despite the difficult market conditions, with the firm posting net inflows of £490m. SLI's strong mutual fund sales contributed to a £4.75bn net inflow for third party assets, a 53% rise over the corresponding period last year. The group says its Global Absolute Return Strategies (GARS) fund continues to be popular with both retail and institutional investors, attracting over £4bn since la...