Ignis Asset Management, the £68bn fund manager owned by the Phoenix Group, made £43m during the 12 months ended December 31, it reported today; a 6% fall on the year before, thanks, it said, to its restructuring of several joint-venture subsidiaries that have now been mostly sold off. It also reported taking in £1.6bn of net new money during the year, with its liquidity or cash funds, its absolute-return products and its real estate investment funds particularly strong sellers. It also took in a £3.1bn mandate from Guardian Assurance during the year, which it described as being "in addition" to the other inflows. Chris Samuel, the firm's chief executive, said it had made "considerable progress against its stated objectives in a year of significant change".