Legal & General Investment Management reported lower assets under management and operating profit versus 2021, as the company was hit by the market movements of the last year.
In its full year 2022 results, the firm reported that operating profit was down 20% from £422m in 2021 to £340m at the end of the year, and its AUM followed a similar trajectory, decreasing by £225bn to £1.1trn. External net flows remained strong however, increasing by 43% to £49.6bn compared with £34.6bn the previous year. Nearly half of these flows (43%) came from international clients and LGIM saw continued growth in higher margin areas such as thematic ETFs and multi-asset. LGIM launches low-carbon Japanese and Asian ETFs However, the positive flows were offset by defined benef...
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