F&C sees assets under management fall

City A.M. Reporter
F&C Asset Management saw its assets under management fall to £96.8bn over the three months to September, from £98.2bn over the previous quarter, it said this morning.

Outflows were in part due to a previously-announced withdrawal of £5.1bn from insurer Friends Life. Over the quarter, it withdrew £2.9bn, and F&C anticipates that the remaining £2.4bn will be withdrawn over the fourth quarter.

Investment performance for the group over the period added £0.8bn, or 2.2 per cent.