Q3 AUA and flows update
Strong demand in volatile investment markets
Assets under administration1 up 2% to £301.9bn (FY 2014: £296.6bn; Q3 2014: £290.0bn) in volatile markets, driven by strong net inflows of £5.8bn, including net inflows of £2.4bn in Q3 2015
· Standard Life Investments meeting the investment needs of clients across the globe with 3rd party net inflows of £5.3bn (2014: £3.9bn):
o Wholesale and institutional net inflows more than doubled to £10.0bn (2014: £4.4bn) representing annualised 14% of opening AUM, including £2.9bn in Q3 2015 (Q3 2014: £0.4bn)
o 64% of net inflows2 year to date from outside the UK as we continue to expand our global reach
o Third party AUM3 ahead of benchmark over 1 year: 85%; 3 years: 94%; and 5 years: 95%
· UK and Europe business continuing to build momentum with net inflows of £1.9bn (2014: £1.5bn):
o Workplace and retail new fee business net inflows up 20% to £4.4bn (annualised 8.5% of opening AUA) including £1.5bn in Q3 2015 (Q3 2014: £1.3bn)
o Added 190,000 new customers year to date and 70,000 in the quarter through auto enrolment, contributing to 12% increase in regular contributions into workplace pensions
o Increased Wrap4 assets to £23.6bn (up 20% year-on-year) with Wrap net inflows up 25% to £3.3bn including a record £1.2bn in Q3 2015
· Agreed terms to increase stake in HDFC Life from 26% to 35% for c£170m subject to regulatory approval