David Nish, Chief Executive, commented:
"Standard Life has performed well during the first nine months of this year and we remain on track to transform the operational and financial performance of the Group. We are strengthening our market positions and improving our efficiency to ensure we are competitively positioned for the important market and regulatory changes ahead of us.
"The third quarter saw very challenging conditions in global financial markets which have impacted values of assets and customer confidence, reducing the pace of fund flows. Our institutional and corporate business continued to grow, although at a slower rate, while inflows into retail propositions have held up well as we continued to add new customers and advisors to our platforms. Standard Life Investments has delivered positive net flows with particular success in the UK and Europe. Assets under administration and revenues have remained resilient due to our diverse asset mix.
"Although the economic backdrop continues to be uncertain, the outlook for our business is positive and we are confident in the future growth opportunities in our chosen markets."
