Legal & General Investment Management (LGIM) recorded net inflows of £5.5bn in the first three months of the year, up 113% on the same period in 2012.
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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
