F&C Investments recorded a £4.9bn outflow in the fourth quarter of 2012, with AUM hit by strategic partner withdrawals and redemptions in its wholesale business.
F&C said the largest contribution to outflows in the quarter was the withdrawal of £2.4bn of fixed income assets managed for Friends Life, taking overall strategic partner outflows to £3.6bn. The firm reported a total net outflow of £1.3bn from its consumer and institutional business, within which the third-party institutional assets division shed £956m. F&C recorded a £340m outflow from its wholesale business, with the most significant outflows coming from the Thames River Global Credit funds following a period of weak performance. Overall for the year to 31 December 2012, the gr...
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