Legal and General’s asset management business LGIM reported external net flows of £65.6bn for the first half of the year, a substantial increase from the previous year, however its overall assets under management fell due to “market movements”.
The firm reported flows of £65.6bn for the first six months of the year compared to £27.4bn for the same period in 2021. However, despite this its assets under management fell slightly to £1.29trnn from £1,33trn, according to the results published on 9 August. Legal and General Investment Management was the only part of the overall Legal & General business that produced a loss when it came to operating profit, down 2% to £200m. In its strategy section the company said it continues to conus on "higher-margin product areas" naming real assets, ETFs, multi-asset and fixed income as its f...
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