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Standard Life Investments reports soar in mutual funds

13 July 2005
Investment in Standard Life Investments mutual funds increased by more than 55 per cent in the second quarter of 2005, in comparison with the same period last year.

The company announced that customers had invested over £136 million in its mutual funds during the period.

The growth represented an average investment of £2.1 million for every working day between April 1st and June 30th 2005, the finance group said.

Standard Life Investments said the growth was consistent with the increasing popularity of equity-based funds, seen in the first part of the year.

Commenting on the results, Jacqueline Kerr, head of mutual funds investments for the company, said: "This has been an excellent second quarter for the Mutual Funds team with sales up and investors reinforcing the trend set earlier this year which revealed a swing towards UK equities.

“It has been particularly pleasing to see us build on the progress made last year when Mutual Fund sales were up six per cent on 2003 and sales of UK equity funds rose by 40 per cent," she added.

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