AUM at Alliance Trust Savings hit £15bn

Alliance Trust Savings has increased its assets under administration (AUA) to more than £15 billion.

Dundee-based investment house Alliance Trust’s savings business said the milestone represented a 10 per cent rise in AUA in the first five months of the year.

The news comes after ATS was separated from Alliance Trust to operate as a distinct entity with its own executive function and non-executive board.

ATS said the latest increase was down to “particularly strong new business inflows from the 110,000 direct, intermediary and partnership channel customers” who were attracted by the company’s flat fee pricing model and broad investment choice.

Patrick Mill, chief executive of Alliance Trust Savings, said: “Reaching £15bn AUA is yet another milestone in our ambitious growth plans and demonstrates continued success across our three distribution channels.

“Our return to profitability last year proves the strength of our flat fee model and the greater certainty it gives over our revenue, compared to percentage fee models, especially in volatile markets.

“And, with the recent addition of Craig Wood, our new chief finance officer to our executive committee, we are well positioned to continue this momentum to build an even more sustainable and profitable business for the future.”