Legal & General (L&G) has reported that its investment arm, LGIM, has taken in gross inflows of £15.4bn in the third quarter of the year,an increase of 71% on last year.
Year to date gross LGIM inflows are up 65% to £42.1bn, putting total assets under management at £443bn. LGIM's retail business continued to benefit from the growth in retail passive funds, due to greater pricing transparency following the implementation of the Retail Distribution Review (RDR), L&G said. Platform Cofunds achieved net inflows of £3.3bn in Q3, and as a result assets under administration on the platform increased to £58.3bn, compared to £53.7bn in H1 2013. L&G said volumes from its banks and building society partners onto the platform "continue to be challenged" follow...
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