Skandia UK has announced gross sales via Skandia Investment Solutions (SIS) have reached £2.5bn this year with the platform now accounting for nearly 80% of the group's sales.
The figure, for the period to the end of May, represents a 6.4% increase on 2010; a record year of sales for SIS. Skandia UK said the rise in sales, which has continued into June, has helped drive its UK funds under management to £35.2bn at 31 May 2011, up from £33.9bn at the end of last year. The platform now accounts for 78% of Skandia UK's gross sales. The company, part of Old Mutual, said the increase in sales is a consequence of the industry shift towards platform usage in the run-up to the Retail Distribution Review (RDR) as well as its development of in-demand tools and investm...
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