The UK's Royal London Asset Management posted a 17 per cent increase in funds under management in the nine months to 30 September, up from £39.7 billion ($63.4 billion) to £46.6 billion.

And the asset manager saw a 28 per cent decline in net outflows, down from £218 million this time last year to £156.8 million on 30 September. 

RLAM launched two funds in the third quarter: the Royal London European Corporate Bond fund and the Royal London Duration Hedged Credit fund were rolled out in August and October respectively.

Meanwhile, at Ascentric, its wrap platform, assets under administration were up 42 per cent to £4,732 million over the equivalent period in 2011. "General economic conditions combined with the pressures of Retail Distribution Review have served to dampen growth in the platform market," the firm said in its interim management statement.

These market factors contributed to an 18 per cent drop in net new business at Ascentric, down from £1040.6 million to £856.7 million.

In the nine months to 30 September, total group funds under management at RLAM increased by 10 per cent to reach £48.7 billion.