LGIM reports £10bn increase in European business

Assets under managementLegal & General Investment Management (LGIM) has crossed the £900 billion threshold in the amount of assets it invests.

Describing its annual results as “strong”, the firm said assets under management reached £983.3 billion (€1.1 trillion) last year, up from £894.2 billion in 2016.

The UK firm’s inflows from European customers increased by £10 billion to £12.6 billion.

In total, the firm had £43.5 billion of net flows last year – a rise from just under £30 billion in 2016.

Reporting a 9% increase in operating profit, the firm highlighted success in its international business, with £33 billion of inflows and AUM in that segment increasing by 29%.

As well as the significant increase from European customers, the firm also gained £12.6 billion in new flows from the US, about £3 billion up on the previous year.

Mark Zinkula, CEO at LGIM, also highlighted success in the retail segment. He said LGIM would be enhancing its personal investing platform later this year, and the firm reported record retail business of £3 billion in 2017, slightly more than double the previous year.

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