Absolute Return Government Bond fund boosts Ignis inflows

Ignis Asset Management saw £500m of net inflows into its funds from outside investors in the three months to September 30 2013, largely driven by the popularity of the Ignis Absolute Return Government Bond fund.

The inflows into the asset management arm of the Pheonix life company saw Ignis’ total assets under management hit £68.7bn, of which 21 per cent is now from third parties.

The Ignis Absolute Government Bond Sicav fund has already grown to £1.5bn, in spite of only being launched in March 2011. It nearly quadrupled in size in the year to the end of September 2013, having been £440m on September 28 2012.

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The firm said the third-party inflows in the past three months, which included the remaining £1.1bn of mandates transferred to Ignis from Guardian Assurance, and positive market movements made up for the natural outflow of cash from the closed book of business that Ignis manages on behalf of Pheonix.