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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
