Skandia sees inflows dip but hails 'strong' platform sales

The Old Mutual Wealth Management-owned company recorded net client cash flow of £1.8bn for the first nine months of 2011, a 5% fall compared to last year. However, it said its performance was strong relative to the wider industry where net retail funds sales plummeted 26% over the same period. It attributed this to a robust showing of its Skandia Investment Solutions platform which saw gross sales increase 7% to £4bn and net cash flow rise 4% to £2.8bn. Funds under management also declined 5% since December 31 to £32.2bn, but Skandia noted this compares to a fall of 13% for the FTSE 1...