Multi-asset and derivatives strategies at life companies Standard Life and Legal & General accounted for two thirds of both companies’ net inflows in the first half of 2016, after they tweaked their trading teams.
Standard Life announced £600 million of the £900 million of net inflows in the first half of 2016 were into multi-asset strategies, in its interim report.
Legal & General Group, meanwhile, announced net inflows of £9.6 billion of which £6.7 billion were into multi-asset and LDI (liability driven investment) strategies.
Both life companies have made changes to trading teams in the first half of the year.
This summer, Standard Life promoted derivatives dealer Martin Robertson to head of derivatives trading for Standard Life Investments. It came almost a year after Steven Swann, the previous head of derivatives trading, took over as global head of trading when veteran trader Jim Conway retired.
In June, Legal & General announced that it was seeking to bolster its Treasury team by appointing a mid-senior level dealer to develop rates and hedging strategies.
Earlier in the year L&G hired equities and derivatives trader Gregory Corrigan from Irish fund firm Fideuram Asset Management and moved senior analyst Jonathan Curteis to a quant role in the multi-strategy fixed income team.
Legal & General’s profit after tax stood at £667 million for the half year ending June 2016, up 22% on the £547 million declared at the same point last year.
Standard Life declared a rise in half year profits after tax (IFRS) of £226m, up from the £69 million declared at the same point in 2015.