RLAM's outflows surge as group warns on 'real risk' of ISA-style pensions

Savings levels could fall significantly says CEO

Outflows at Royal London Asset Management surged 152% in the first half of the year, resulting in net flows overall being 61% lower than for the same period last year.

In parent Royal London's results, it was revealed outflows for the group's asset management arm were £1.4bn, more than double the £540m figure reported in the same period last year. Although RLAM reported inflows of £1.9bn, the jump in outflows meant that total net flows were £511m, 61% down on last year's £1.3bn for the same period. The group said the majority of its net inflows came from wholesale buyers, with those accounting for £388m of the £511m total. Of that, £346m flowed into four funds including: the Royal London UK Equity Income fund, Royal London Corporate Bond, Royal L...