LGIM AuM rises to £1.14 trillion

Total assets under management at Legal & General Investment Management rose 15% to £1.135 trillion (€1.23 trillion) in the first half of this year, bolstered by net inflows of £60.3 billion.

Operating profit at the UK’s largest asset manager rose fractionally to £205 million, while management fee revenues grew 6% to £425 million. 

Michelle Scrimgeour, chief executive of LGIM since July, said the results reflected a “good” first half of the year for the company that had seen the securing of a £37 billion mandate with the Japanese government’s Pension Investment Fund.

“We have invested in improving our operating platform and continue to invest in enhancing customers’ digital experience,” she said.

“The future will bring global regulatory, economic, technological and political change, and I will be working closely with the business and our clients to navigate what will be a challenging time for our industry.”

©2019 funds europe

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