Legal and General Investment Management(LGIM) reported a 14% increase in operating profit to £234m for 2011, while AUM rose 5% to £371bn, from £354bn the previous year.
Gross new business was £32.8bn over the year, compared to £32.6bn in 2010, with inflows particularly strong across the higher fee generating assets. Increased demand for LGIM's de-risking capabilities and additional services such as currency hedging, dynamic asset allocation and transition management also helped drive revenues, according to the group. The investment arm's strong performance helped boost profits for the wider L&G group. Operating profits across its four divisions rose to £1.056bn, up from £1.002bn the previous year. It will pay a total dividend for 2011 of 6.4p pe...
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