Legal & General Investment Management's assets under management increased 7.6% over the year ended Sept. 30 to £477 billion (US$763.5 billion).
Total assets, including £199 billion of derivative overlays and advisory assets from its acquisition of Global Index Advisors, increased 14% to $676.3 billion for the year.
Parent group Legal & General's financial update, published Tuesday, said international assets have also tripled in the last four years, to £86.5 billion, with net inflows over the past year of £7.2 billion.
LGIM's international business was bolstered in particular by U.S. liability-driven investment and active fixed-income inflows, with U.S. LDI and active fixed-income assets under management increasing 119% to $77.4 billion over the year ended Sept. 30.
LDI was a strong business line overall, with total assets increasing 22% for the year to £273 billion. Net inflows of £18.4 billion to LDI offset outflows to its U.K. index business of £11.8 billion, according to the financial update. These outflows reflect “this derisking trend and lower international institutional index mandate wins,” L&G wrote.
The manager's real estate business also saw increased demand from U.K. pension funds and other clients, with net inflows of £1.1 billion. Assets under management for real estate increased 27% to £13.2 billion, compared with £10.4 billion of assets as of Sept. 30, 2013.
