Saturday September 26, 2020

Standard Life reports better-than-expected asset growth and profits

The insurer and asset manager weathered market volatility in the first half

9th August, 2016
Standard Life assets under administration rose by 7% Pic: Courtesy RTÉ

British insurer Standard Life weathered a tough market environment to report better-than-expected asset growth and profits in the first half, sending its shares almost five per cent higher.

Standard Life's flagship £26 billion (€31 billion) Global Absolute Return Strategies Fund (GARS) fund saw quarterly outflows for the first time ever in the three months including the June 23 referendum date.

Operating profit before tax rose by 18 per cent to £341 million, underpinning a 7.5 per...

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