Standard Life Investments, the global fund manager, today announced record half year results for the six month period ended 30 June 2013.
Highlights of Standard Life Investments’ performance in H1 2013 include:
- Record H1 net sales of £7.1bn (H1 2012: £0.6bn) – AUD$11.8bn (H1 2012: AUD$0.9bn)
- Record H1 operating profit before tax of £93m (H1 2012: £68m) – AUD$154.1m (H1 2012: AUD$104.0m)
- Record third party assets under management (AUM) of £93.4bn (end year 2012: £83.0bn) – AUD$154.8bn (end year 2012: AUD$130.0bn)
- Total AUM up 7% to £178.8bn (end year 2012: £167.7bn) – AUD$296.2bn (end year 2012: AUD$262.6bn) –
- Strong investment performance with 92% of funds over one year and 91% over three year time periods outperforming their benchmark
Commenting on Standard Life Investments’ H1 2013 results Keith Skeoch, Chief Executive Officer, said:
“Standard Life Investments produced excellent results in H1 2013, delivering record profit, record net sales, record third party aum and excellent investment performance despite the return of volatility to markets in June. Annualised net flows of over 17% of opening AUM makes us, on this measure, one of the fastest growing global asset managers.
“I am particularly pleased that our ‘focus on change philosophy’ and team based approach continues to deliver innovative investment solutions and strong long term investment performance for our ever increasing number of global clients.”
New Business
We have built a strong and diversified book of third party business by both asset class and geography. The channel mix is also developing with 47% of net flows coming through wholesale and 53% through institutional.
Strong demand from outside the UK, accounting for 51% of net inflows, was led by the US with net inflows of £1.4bn (H1 2012: £0.6bn) – AUD$2.3bn (H1 2012: AUD$0.9bn). AUM generated from sales in our Boston office broke through $5bn – AUD$5.5bn. SICAV funds continue to prove attractive with net inflows of £1.2bn (H1 2012: £0.3bn) – AUD$2.0bn (H1 2012: AUD$0.5bn) as we have extended some of our most successful SICAV funds into France, Belgium and Italy. Canada generated net inflows of £0.3bn – AUD$0.5bn, while in India our joint venture with HDFC AMC generated net non-cash inflows of AUD£0.1bn – $0.2bn.
Total AUM
