Legal & General Investment Management's assets under management increased 7% to £465.1 billion ($784.2 billion) for the year ended June 30.
Parent company Legal & General's financial update for the six months ended June 30 showed net inflows for LGIM of £10.4 billion, bolstered in particular by international net inflows of £5.9 billion.
In a statement accompanying the financial update, L&G wrote that international inflows were driven by fixed-income and liability-driven investment inflows in the U.S., alongside the manager's first passive allocation in Asia.
U.K. net inflows were £4.5 billion, with strong demand for LDI and increased net derivative overlay asset inflows.
Passive strategies saw about £5 billion of withdrawals by three large clients in the U.K., “to either be managed in-house or to fund bulk annuity transactions,” L&G wrote.
Including derivative overlay and advisory assets, total assets for LGIM increased 13% to £653.7 billion for the year ended June 30.