Legal & General Investment Management saw a 25% annual increase in new business flows to 31 March, fr...
Legal & General Investment Management saw a 25% annual increase in new business flows to 31 March, from £5.6bn to just over £7bn. Gross new funds for the group, including its Retail Investments grew 22%, year on year, to almost £7.5bn. While L&G admits pressure will continue on fee income, its says LGIM will remain a strong cash contributor for the company. Unit trusts and Isa new business was up 43% to £60m, compared to £42m last year, which the group considered "excellent" in spite of industry conditions. "We do not expect gross sales in the industry to grow this year given investm...
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