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Standard Life says group assets up 2.1 pct in first quarter

Reuters - UK Focus

LONDON, May 23 (Reuters) - Insurer and asset manager Standard Life (LSE: SL.L - news) said on Monday that total assets under administration rose 2.1 percent to 314 billion pounds ($455.33 billion) during the quarter to end-March, boosted by market and currency moves.

Net (LSE: 0LN0.L - news) inflows into the firm's various products from institutional clients were 1.5 billion pounds, while retail inflows were 1.1 billion pounds, it said in a statement.

Market movements and currency moves added most to the firm's AuA, it said, rising 5.7 billion pounds.

The firm said it had seen particularly strong demand for its multi-asset products, where net inflows were 1 billion. Assets under management at its fund arm were 258.6 billion pounds. ($1 = 0.6896 pounds) (Reporting by Simon Jessop)