Legal & General Investment Management's assets under management were £717 billion ($1.1 trillion) as of Sept. 30, up 0.3% from three months earlier and up 8.3% from a year earlier.
International assets under management contributed significantly to that figure, with a 62.9% increase in assets over the year ended Sept. 30 to £117.8 billion. International assets were up 1.7% from the end of the second quarter, said a financial update Wednesday.
Total third-party net inflows over the nine months ended Sept. 30 were £21.7 billion, compared with £8.3 billion in net inflows over the nine months ended Sept. 30, 2014. Annual figures were not available.
Over the three months ended Sept. 30, net inflows were £7.9 billion, compared to net inflows of £9.5 billion for the three months ended June 30 and net outflows of £200 million over the three months ended Sept. 30, 2014.
LGIM's assets managed on behalf of U.K. defined contribution plans increased 13% to £43.3 billion over the year ended Sept. 30. DC assets were up 1.2% over the quarter.
Nigel Wilson, CEO of parent company Legal & General, said in the update that the firm had been hired to manage assets in the U.S., China, South Korea and Taiwan over the past year.
Later this month, £13 billion of assets from the National Grid U.K. Pension Scheme, London, will be transferred to LGIM, following the acquisition of National Grid's in-house money manager, Aerion Fund Management, announced in September.
