04 Aug 2010 | 08:12
Hysni Kaso
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.
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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 active fixed income and LDI products and have a significant pipeline of new product initiatives underway.
"Following LGIM's success growing business during the first half of 2010 within Europe, the US and the Gulf, we will continue to seek further growth opportunities in the international arena."
Categories: UK
From Investment WEEK published on 04 Aug 2010 | 08:12
