Skandia AUM grows as Old Mutual suffers £2.6bn outflow

In its interim report for the three months to 31 March, the group said it saw AUM grow 1% from December 2010, rising to £303.1bn. The US asset management business saw an outflow of £3.7bn. However, emerging market fund sales climbed 13% to £115m, and the firm’s UK platform saw a 6% uptick in gross inflows to £1.4bn. Julian Roberts, group chief executive, said he was pleased with the group’s ‘steady’ performance. "This has been a quarter of steady operational performance by the group, building on the momentum we established in 2010. We are continuing to see strong growth in emerging ma...