Royal London operating profits jump 58% following 'simplification'

Inflows at £3.7bn

Royal London saw profits jump 58% in 2022, from £133m the year before to £210m.

In the firm's annual results, it revealed that net inflows remained positive at £3.7bn, though they dropped slightly from £5.3bn in inflows in 2021. Despite this, assets under management dropped from £164bn to £147bn, which the firm attributed to "falls in equity and bond markets". It argued that its investment performance had remained "strong in difficult market conditions", with 80% of funds outperforming their three-year benchmark, although 995 had outperformed in 2021. Pridham Report: Fidelity and LGIM gain top three spot for gross and net sales in 2022 The firm credited...