LGIM reports 8% AUM rise; Parent to improve Cofunds 'operational efficiency'

Stronger retail showing


Legal and General Investment Management(LGIM) reported an increase in AUM of 8% to £717bn at the end of September, with a stronger showing for its UK retail business in Q3.

This compared to £662.1bn in AUM reported at the end of Q3 2014. It reflects external net inflows of £21.7bn for the nine months to the end of September; a significant increase from £8.3bn in the same period in 2014. In the third quarter, external net inflows were £7.9bn, compared to an outflow of £0.2bn in Q3 2014. The group said this represented the second successive quarter of positive external net flows across all its major asset classes. Its UK retail business also reported a stronger quarter than last year, with external net flows of £0.6bn, up from zero net sales in Q3, 2014.  ...

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