Skandia UK reported a 150% rise in net inflows in Q1 compared to last year, which it attributes to the popularity of its platform and Spectrum fund range.
Skandia UK took £500m net inflows in the first three months of the year, while its assets under mangement rose 7% compared to the previous quarter to £30.3bn. Sales of mutual funds grew by 116% to £796m compared to this time last year and ISA business rose 181%. During the quarter, Skandia's risk-rated Spectrum funds of funds range topped £500m aggregate assets. Skandia is taking around £6m a week into these products, compared to £4m each week 12 months ago. Meanwhile, the Skandia Investment Solutions platform had its strongest quarter ever, attracting about £1bn of net new busines...
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