Skandia UK Net Inflows Fall by Five Percent
Posted on:
04
Nov
2011
by Huw Thomas
Skandia UK has reported Net Client Cash Flow of £1.8 million for the first nine months of 2011.
Despite the drop, the company believes the sales figures show strong performance compared to the overall market. According to IMA Investment Fund Statistics, industry wide retail sales fell by 26 percent in the same period.
Gross sales for the first three quarters of the year were at £4.9 billion, consistent with the same period in 2010, while gross sales on the Skandia Investment Solutions platforms climbed by seven percent to £4 billion. Net client cash flow rose by four percent to £2.8 billion.
Commenting on the results Skandia UK chief executive Peter Mann said: “We continue to see strong net sales via the Skandia Investment Solutions platform, despite industry sales retreating overall. This is a reflection of the growing importance of platforms for retail fund sales and clear evidence that platforms are set to dominate the sales charts through the transition to the post RDR world.
“However, we believe that success is not just based on the platform service itself. Platform operators must combine their technology with first class customer service, dedicated adviser support and a wide range of additional content, products and services that support the investment process to remain competitive over the long term.”
