Assets under management at F&C Asset Management rose 2% to £104.1bn in the third quarter, recouping some of the losses suffered earlier this year and despite retail investors pulling money from the firm's funds.

Assets in the firm's institutional funds grew from £26.5bn to £27.4bn over the three months to the end of September, offsetting retail outflows of £200m over the period. Assets in insurance funds grew from £57.2bn to £58.7bn.