Interim Management Statement
Increase in Group AUA driving 15% growth in fee based revenue
· Group assets under administration (AUA) increased by 9% to £237.6bn (FY 2012: £218.1bn; Q3 2012: £211.9bn)
· Group AUA net inflows of £7.7bn1 (2012: £3.0bn)
· Fee based revenue increased by 15% to £1,059m (2012: £923m) in the first nine months of the year
Continuing strong growth in fee based propositions in our UK long-term savings business
· UK corporate pension AUA up 11% to £27.3bn (FY 2012: £24.5bn) with net flows in the quarter up 29%
o We have secured 195,000 new customers who will contribute to future growth in AUA
o Our pipeline of secured corporate business is strong with increased take-up of our investment solutions
· UK retail new AUA increased by 28% to £36.7bn (FY 2012: £28.7bn)
o Net inflows in the quarter 35% higher than Q3 2012
o Number of IFA users on our Wrap platform has increased by 20% to 5,056 (FY 2012: 4,206)
o Standard Life Wealth AUA increased by £3.2bn to £5.5bn following the acquisition of Newton Private Clients1
Standard Life Investments delivers record third party AUM and strong investment performance
· Third party AUM up 13% to £94.2bn (FY 2012: £83.0bn; Q3 2012: £78.8bn)
· Third party net inflows of £8.3bn2 (2012: £3.2bn2) including net inflows into our multi-asset solutions of £1.1bn in the quarter
· Investing to diversify asset mix, launching new products, and expanding geographic reach
· Strong investment performance with 87%, 89% and 91% of third party AUM above benchmark for one, three and five years respectively
Strong balance sheet
· Estimated IGD surplus of £3.7bn (HY 2013: £3.7bn; FY 2012: £4.1bn; Q3 2012: £3.4bn) following acquisition of Newton Private Clients