Royal London investment returns plunge £1.42bn

Royal London says the difficult market conditions impacted investment returns, which fell from £2.28bn to £865m. Aside from investment return, the firm says it performed well last year, with before tax operating profit (EEV basis) climbing to £147m, up from £116m in 2006. Royal London increased its new business contribution by £14m in the period, to £61m – while funds under management climbed to £33.1bn, up from £30.8bn at the end of 2006. Mike Yardley, Royal London group chief executive, says the results reflect the financial strength and profitability focus of the firm. “The best indi...