Skandia International announces positive first half results

With global markets remaining broadly flat over the period,  this positive net client cash flow meant funds under management as at 30 June 2011 stood at £17 billion. IFRS adjusted operating profit increased by 56% to £42 million for the first half of 2011 (up from £27 million in H1 2010).   Skandia International reports of a marked move away from sales trends in regular premium business towards single premium portfolio bonds.  Europe (excluding UK) was the biggest selling region for the company over the period, followed by the UK and Middle East.  Sales continue to grow signific...