Royal London Asset Management has seen a 73% drop in net new business, as volatile markets weigh on investor risk appetite, but sales remained positive in 2015.
In its full-year results to the end of December, RLAM said net new business, excluding external cash mandates, fell from £2bn at the end of 2014 to £532m for 2015. Gross inflows were down 16% from £3.7bn to £3.1bn, while outflows increased by 49% from £1.7bn to £2.6bn. However, parent company Royal London said its asset management division had performed well against a difficult market backdrop, with the Buy & Maintain strategy, Equity Income and Corporate Bond funds all seeing investor support. In 2015 RLAM had seen a number of departures, with UK Growth manager Bradley Mitchell le...
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