Legal & General Investment Management (LGIM) posted a 32% increase in IFRS operating profit during the first half of 2010, with the group recording gross new business of £21.2bn.
The group's profits climbed from £74m to £98m, as its assets under management rose 2% to £320bn. New business derived from non-index mandates rose from 21% to 30%, while 15% of new business coming from non-UK based clients. In L&G's retail unit trust business, the group saw a £400m net inflow, while structured product sales were also strong. "LGIM remains focused on working closely with clients to continue to offer highly accessible, increasingly sophisticated products to meet their changing needs," the group says. " We anticipate an even greater share of new business to be in a...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
