SLI inflows fall 43% but profits up sharply

Third party net inflows fell to £4.2bn in the six months to end of June, down from £7.4bn in the same period last year.   SLI blamed the sharp drop on a “particularly high level” of inflows last year.   Much of the group’s inflows in the past have been driven by the £20bn Global Absolute Return Strategies fund, which SLI has said will begin to slow in the near future.    However, pre-tax profits still rose 9% to £104m, as the group begins to streamline its business arms following the acquisition of Ignis – a deal SLI says will boost its EBITDA margin to 45% by 2017.   One of...