Standard Life Investments sees assets jump to record £179bn

Standard Life Investments saw its assets under management jump to a record high in the first quarter thanks to a combination of soaring inflows and strong markets.

The investment arm of the FTSE 100-listed insurer said third party net inflows in Q1 had risen by 161% year on year, to £3bn, up from £1.1bn the previous year. The flows - and a positive start to 2013 for markets - lifted assets under management to a new high. The group said total SLI assets under management rose 7%, or £11.4bn, to £179.1bn in the first quarter of 2013. Third party AUM, which now represents over 50% of total assets for the first time ever, was up 9% year on year to £90.4bn over the same period with money going to a variety of strategies. Among them, it said its ...