F&C hits record sales as doubt surrounds future

The group recorded £703m gross new inflows into its OEIC range, a 37.3% increase on its previous best year in 2006. The future of F&C is currently up in the air as Friends Provident, which owns 52% of the company, earlier today outlined its intention to offload the asset manager. However, F&C chief executive Alain Grisay said he believes the firm has excellent prospects as a standalone company and did not rule out a management buyout of the Friends Provident stake. Commenting on the results, F&C retail head Nick Criticos, says net sales were also “exceptionally strong” taking into ac...