Standard Life Investments, the fund management arm of insurer Standard Life, today said record new mandate wins helped push profits up by a half last year, and added that it will initially escape a cull of 1,000 jobs its parent plans to make by 2009.

As previously reported in February, when the group reported preliminary results, Standard Life Investments' total funds under management grew 11% to £132.1bn, while net inflows of £6.4bn helped external business up 32% to £38.5bn.