LGIM sees positive net flows in Q1

UP_arrowsLegal & General Investment Management’s (LGIM) assets increased in the first three months of the year on the back of positive net inflows of £2.6 billion (€3.2 billion) and market performance.

LGIM, which has a large passive investment business, saw assets rise by 29% on Q1 2011 to £383 billion.

The firm, owned by Legal & General insurance company, saw outflows of £600 million in Q4.

LGIM wrote £7.5 billion of gross new business, which was in line with the last three quarters.

Active fixed income and liability-driven investments gross inflows increased to £3 billion from £2.4 billion in Q1 2011. Net inflows were £1.8 billion.

The fund manager said it had increased assets under management from international clients to £20.3 billion from £18.3 billion at the end of 2011.

Growth plans this year includes expanding the fund proposition in the US where LGIM is seeing strong demand from US pension fund clients.

©2012 Funds Europe