Legal & General Investment Management’s assets under management increased 4% to £736.8 billion ($1.1 trillion) over the three months ended March 31.
Over the 12-month period, total AUM increased 17%.
International assets totaled £126.4 billion, a decrease of 1.9% compared with Dec. 31, but an increase of 92% compared with March 31, 2014, which includes assets acquired with the purchase of Global Index Advisors last May.
International assets included £40 billion of U.S. business.
Total net inflows for LGIM were £2.6 billion for the three months, compared with £6.6 billion for the first quarter of 2014. LGIM said in a statement accompanying the results that net inflows were driven by client demand for the firm’s derisking capabilities, U.K. auto-enrollment business and retail strategies.
A spokesman for LGIM said in an e-mail that while the firm recorded net inflows for its international business, international assets under management decreased because of changes in the euro exchange rate.