British asset manager Legal & General Investment Management (LGIM) has posted an operating profit of £355m for the year ended 31 December 2015, an increase of 11% compared to £321m a year ago.
LGIM had total assets under management (AUM) of £746.1bn as of 31 December 2015, up 8% from £693.7bn a year ago.
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The LGIM segment represents institutional and retail investment management and workplace savings businesses.
The segment has reported external net inflows of £37.7bn for 2015 driven by positive net flows across every client segment, region and product level.
Total revenues at the unit increased 8% to £694m from £645m in 2014.
Overall, Legal & General Group’s operating profit was up 14% to £1.45bn compared to £1.27bn a year ago.
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By GlobalDataGroup Chief Executive Nigel Wilson said: "Legal & General delivered excellent growth in cash, profits and dividends in 2015: Net cash generation and Operating Profit were both up by 14%, EPS was up 11 % and we are increasing the dividend by 19%.
"Over the last 4 years we have delivered sustained growth, Net Cash has increased 10%, EPS has increased 11% and the dividend increased by 20% on average each year.
"We had already moved to a capital-lite model for UK pension risk transfer business in anticipation of the new Solvency II regime and we will use our Solvency II surplus capital of £5.5bn to continue to deliver on our strategy."
