Keith Skeoch, the chief executive of Standard Life, has robustly defended his company's dependence on its investment division's market-leading multi-asset fund, GARS, as the group reported resilient new business figures despite choppy market conditions.

Standard Life Investments reported net inflows of £2.4 billion between the end of June and September, taking its 2015-to-date figure to £5.8 billion. Flows have been particularly strong into its Global Absolute Return Strategies, or GARS, fund and its related suite of multi-asset products.