Ignis reveals new funds as inflows hit £0.9bn

Ignis Asset Management today revealed two new funds set to be launched later this year as it announced inflows of £0.9bn into its funds in the first half of 2013.

Chris Samuel, chief executive of Ignis said the firm is set to launch an Absolute Return Emerging Market Debt fund and a hedge fund version of its Ignis Absolute Return Government Bond fund, which will target more sophisticated institutional investors.

The £1bn Absolute Return Government Bond fund was a major contributor to the asset manager’s inflows in the six months to June 30, bringing in £344m in the period.

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The net inflows were in line with those seen in the first half of 2012 and slightly up from the money brought into the funds in the second half of last year.

Ignis suffered a drop in total assets under management (AUM) from £68.3bn at the end of 2012 to £66.9bn at the end of June due to the natural depreciation of the assets in the book of closed life insurance business it runs on behalf of parent company Pheonix Group.

The inflows into higher margin products during the period meant that the firm’s profits were flat during the period in spite of the drop in AUM.