Legal & General Investment Management (LGIM) is making progress with plans to expand beyond the UK with a rise in international assets under management of more than athird last year.
The firm says the international inflows were helped by demand for its liability driven investment (LDI) and active fixed income services in the United States.
“LGIM America now manages assets on behalf of four of the ten largest corporate pension schemes in the US, and has a healthy pipeline going into 2014,” says the firm, in its annual report.
In February, the firm aided its US expansion with the acquisition of Global Index Advisors, an investment adviser to $15.6 billion (€11.4 billion) of assets, based in Atlanta.
LGIM says it also attained a regulatory licence in Asia last year and achieved record sales in Europe and the Gulf region.
The firm reported a net inflow of £15.7 billion (€19 billion) from international clients in 2014, bringing international assets under management to £59 billion. International clients now account for 13% of total assets under management, which were £450 billion at the end of December.
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