LGIM records £5.5bn net inflow in Q1

The strong flows and positive markets helped the unit's total assets under management (AUM) to reach £441bn, up 9% on full-year 2012. Most of the growth was attributable to the group's international customers, particularly in the Gulf and Europe, though new business from the UK was up 6% on last year, to £6.6bn. Meanwhile, the group said its acquisition in March of remaining 75% of Cofunds - which valued the investment platform at £175m - has meant AUA in its savings business are now in excess of £100bn. L&G said it is to make a one-off investment of £17m in the platform, which wil...