Standard Life Investments said its rate of new business inflows slowed during the first quarter of 2012, which it blamed on a "generally weak" sales environment across the funds industry.

In its interim results this morning, the £155bn asset management arm of the UK insurance group said it pulled in £1.1bn of new money from customers during the first three months of the year, "despite weak inflows in the market generally". That was down from £1.4bn last year.