Legal & General Investment Management (LGIM) has improved its performance on a year-to-year basis, according to results for the first half of 2015.
The firm’s operating profits are up by 18% to £624 million (€888.6 million) compared to £567 million at the same point last year.
Its assets under management are also up by an impressive 12% to £714.6 billion, from £640 billion. According to the firm, this was driven by on-going client appetite for LGIM’s liability driven investment and real assets capabilities, as well as active fixed income and multi-asset strategies.
Net outflows from the firm’s index funds have also decreased dramatically, falling to £1.2 billion this year compared to £8.3 billion last year. The firm says this is due to greater success in winning index mandates from international clients.
LGIM also enjoyed success in its active fixed income fund, seeing inflows of £2.3 billion, more than double the amount achieved last year (£1 billion).
The firm saw a 19% increase in dividend per share to 3.45p and the 19% increase in return on equity, leading Nigel Wilson, group chief executive, to say: “Financial and strategic discipline is driving our sixth year of double digit growth in net cash, operating profit and dividends.”
©2015 funds europe