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"In 2007 we focused on driving synergies, resolving legacy issues and building and expanding our capabilities across our international portfolio. I am delighted that during this period of investment we were able to produce a good performance despite the prevailing difficult trading conditions. Particularly pleasing was the continued delivery of outstanding investment performance,which stimulated growth in net client cash flow and, ultimately, funds under management."

Jim Sutcliffe
Chief Executive

Highlights of the year

  • Excellent investment performance across the Group
  • Total funds under management increased 18% to £279 billion
  • Strong net client cash flows of £23.4 billion, 10% of opening funds under management
  • Group established solid foundations for the future
    • Nedbank recovery targets met
    • US Life returned cash to Group
    • Synergies at Skandia well on track
    • Adjusted operating earnings per share up 12% to 16.9p on an IFRS basis