Edinburgh-based Standard Life Investments (SLI) posted its strongest quarter for mutual fund sales since the company launched in 1998.
SLI, like the rest of the British fund industry, has seen a significant rise in sales over recent months. Gross sales of unit trusts and open-ended investment companies were up 270% to GBP463 million during the second quarter of 2006, over seven times the industry average of 38%.
Net sales also soared by 1,026% during the quarter, almost 10 times the industry average increase of 103%. The group says the strong increase builds on the sales momentum generated during the first quarter of 2006, which was in itself a record sales period.
SLI’s highest selling open ended investment companies (OEICs) for the quarter were; select property, UK equity high income, UK opportunities, higher income and corporate bond funds.
It is encouraging to note that property, equity and bond funds are all represented as top-sellers in our fund range – a reflection perhaps of a growing appreciation of the benefits of a diversified investment portfolio, said Jacqueline Kerr, investment director at SLI.