LGIM inflows double in H1 amid 'tremendous momentum'

AUM tops £951bn

Legal & General Investment Management (LGIM) reported external net flows more than doubled in the first half of the year to £21.7bn, compared to £9.6bn for the same period last year, as a result of strong flows into its retail and DC business.

In results reported this morning, the group said business had expanded across all business channels with the inflows leading to a 13% growth in assets under management, up from £841.5bn at the end of the H1 last year to £951.1bn. Retail net inflows were £1.7bn for the six-month period, £1bn more than last year, while DC assets also saw net inflows of £1.7bn. The group said this has led it becoming the largest asset manager of DC assets in the UK, while LGIM was also recently ranked number one in the UK for net sales in Q2 2017 in the Pridham Report. Retail AUM grew to £26.8bn, as the bus...