Legal & General Investment Management reported inflows of £3.8bn in the first quarter of 2014, down 19% from the same period last year, while individual annuity sales also tumbled.
The insurer's investment arm saw a big drop-off in international flows, falling from £6.7bn to £2.6bn, but UK retail flows stayed positive, with £300m of flows equalling last year's figure. LGIM - headed by group executive director Mark Zinkula (pictured) said much of this was driven by increased interest for its fixed income products. Overall AUM at LGIM climbed thanks to market movements, up 5% to £463bn. Meanwhile, its parent said individual annuity sales dropped 40% in the first quarter of the year, with sales down from £406m in 2013 to £244m. It added it now expected the in...
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