Phoenix Fund Services’ UK funds business has grown more than 60 per cent in 2012 and now administers total funds under management of GBP850m.

Anthony Wolfe, business development director, says: “Phoenix is delighted that its UK funds business has grown so strongly in the past year in a harsh investment environment. This growth has been based upon our support of specialist fund managers who have a clear investment proposition and, despite unhelpful markets, have a strong investment track record. Phoenix looks forward to 2013 which offers the prospect of continued growth in supporting its clients’ success.”