30 January 2013
F&C Asset Management plc is today updating the market on its Assets Under Management ("AUM") at 31 December 2012 and business flows for the fourth quarter of 2012. Except where otherwise specified the data in this statement covers the three and twelve-month periods to 31 December 2012.
Highlights
Group AUM of £95.2 billion at 31 December 2012 (30 September 2012: £96.8 billion)
Consumer and Institutional AUM of £36.8 billion (30 September 2012: £36.7 billion)
Gross Third-Party Institutional inflows of £0.8 billion in the quarter, taking the total for the year to £2.9 billion, or 12.7% annualised rate
Consumer and Institutional investment performance of £1.0 billion, or 2.8%, in the quarter
Institutional net pipeline of won but unfunded mandates, less notified withdrawals, of £0.8 billion (30 September 2012: £1.4 billion, 31 December 2011: £nil)
Pursuant to Friends Life's previously stated intention of insourcing its fixed income assets, Strategic Partner outflows included £2.4 billion withdrawals by Friends Life; insourcing of a further £6.2 billion of fixed income assets expected by mid-year, leaving £2.4 billion remaining
Richard Wilson, Chief Executive, commented:
"Performance in the quarter was good in most asset categories and revenue yields on inflows continue to exceed those on outflows. We look forward to continuing progress in executing our Third-Party Institutional and Consumer growth strategies."
