£2.4bn inflows at Stan Life as assets hit £302bn

Standard Life CEO Keith Skeoch

Edinburgh-based investment giant Standard Life said it enjoyed net inflows of £2.4 billion ($3.6 billion) in the third quarter — well ahead of analysts’ expectations.

Panmure Gordon analysts had forecast net inflows of £1.1 billion for the quarter, while JP Morgan analysts had expected inflows of £900 million.

Standard Life’s assets under administration rose 2% in the first nine months of 2015 to £302 billion ($462 billion).

“Standard Life has performed well against a backdrop of volatile investment markets,” said Standard Life chief executive Keith Skeoch (pictured).

“We have delivered consistently strong investment performance and record third party net inflows of £10 billion (for the first nine months of 2015) across our institutional and wholesale channels.

“The strength of our propositions has helped our Wrap platform to achieve its highest ever quarterly net inflows and regular contributions into our workplace pensions are growing strongly.”