Royal London operating profit rises 16% in H1 2023

Net inflows increase to £3.2bn

Royal London has posted a 16% rise in operating profit before tax to £127m in the first half of 2023, driven by growth in its workplace pension new business.

The group's assets under management increased to £153bn from £147bn at the end of 2022, with net inflows rising to £3.2bn from £2.5bn. Net inflows were largely boosted by external flows into its global equity strategies, the firm said. RLAM's Jonathan Platt steps down from £1bn corporate bond fund The company's flagship Governed range was a standout for the six months, attracting £1.7bn in net inflows, with AUM reaching £56bn. The asset management arm has continued to focus on diversifying its investment strategies and international growth, with Royal London securing its first clie...