2024 presented a mixed environment for UK consumers, which meant that consumer confidence remained fragile.
Against this backdrop, and in a year which in many ways was challenging for the business, we are very pleased with our business and financial performance. Gross inflows for 2024 were £18.4 billion, up 20% on 2023, with momentum building during the year. Retention of client funds under management (FUM) remained strong at 94.5%, resulting in net inflows of £4.3 billion, representing 2.6% of opening FUM.
Our investment management approach (IMA) continued to perform well for clients, with our portfolios delivering strong returns that compared favourably against peer groups, supporting great outcomes for our clients. Our net investment performance for 2024 represented over 10% of opening FUM, and it’s important to remember that this is after all charges including advice.
Our Polaris multi-asset fund range continued to be very successful; it has grown to be the largest retail multi-asset range in the UK less than two years after it was launched, with over £60 billion invested across the four risk-rated solutions at 31 December 2024.
