LGIM posts £7.9bn net inflow as group slashes dividend

Legal & General Investment Management saw net inflows of nearly £8bn into its funds during the first half of the year.

The investment management arm of L&G revealed a £70m profit for the first half of the year, down nearly 25% on the £91m posted in the corresponding period last year. The £7.9bn net flows for H1 compare well to its £10.1bn net inflow for the whole of 2008. The figure is comprises of £14.2bn in new investments and £6.3bn of redemptions. "LGIM remains a leader in its market and the outlook looks positive, with strong inflows of new business in the pipeline," the company says. "Under current market conditions, we remain well positioned for significant further progress." Groupwide...