Legal & General Investment Management (LGIM) has reported a growth in its assets under management (AuM) aided by a significant rise in inflows.
AuM at LGIM reached £1.19tn in 2019, an 18% increase from £1.01trn in 2018.
Go deeper with GlobalData
This includes £150.5bn in responsible investment strategies explicitly linked to ESG criteria.
External net flows increased almost two-fold to £86.4bn from £42.6bn.
The performance was largely driven by a £37bn Japanese passive mandate.
Total flows from Asia including Japan stood at £39.7bn in 2019 versus £3bn in the prior year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe firm’s European business (excluding the UK) generated net flows of £11.6bn.
Growth in external and internal business supported an 8% rise in revenues to £912m from £847m.
Management fee revenue increased to £889m from £820m while transactional revenue increased to £23m from £27m.
Operating profit rose 4% year-on-year to £423m. The firm attributed the rise to “increased revenues from flows and asset values which were partially offset by LGIM’s continued investment in its growth strategy”.
Pre-tax profit increased to £414m from £403m over the period.
LGIM CEO Michelle Scrimgeour said: “We expanded and diversified across channels, regions and capabilities and have been building on our credentials as a responsible investor to lead the asset management industry in tackling the environmental and social challenges arising from a rapidly changing world.”
