DUBLIN: Ireland recorded another strong year of growth, with assets under management increasing from €6.9 billion to €8 billion in 2014.
Sales of lump sum investment products rose to over €200 million, while investment only corporate pensions sales were also strong at €380 million.
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Nigel Dunne, head of Standard Life Ireland, said the Irish business attracted €1.14 billion of new money, adding that the outlook remains positive for long term investing.
“Greater confidence gives customers the freedom for planning and thinking more about their future, a particularly important when it comes to long term investing,” he said.
“This increased confidence combined with a positive macro environment of low interest rates and strong asset returns, provides a favourable outlook for the Irish pensions and investment market over the next number of years,” he added.
Parent company Standard Life group reported a 19 per cent increase in full-year profit, beating analysts’ estimates, boosted by its asset management unit.
Operating profit, excluding sold businesses, rose to £604 million (€821 million) from 2013, the company said in a statement on Friday.
