Legal & General Investment Management’s assets under management increased 17.7% to £841.5 billion ($1.13 trillion) over the year ended June 30, and was up 12.8% over the six months to that date, bolstered in particular by its international business.
LGIM’s total international assets under management grew 31.2% over the year, and 24.1% over the six months, to total £151.9 billion.
External assets under management net inflows over the six months ended June 30 totaled £9.6 billion, compared with £13.8 billion in net inflows for the first six months of 2015. Flows were not available for the six months ended Dec. 31.
The international business saw total net inflows of £6.7 billion, up vs. the same period in 2015, when net inflows totaled £5.4 billion. Positive flows were recorded in the U.S., Europe, the Middle East and Asia, said a financial update by LGIM parent Legal & General. U.S. business net inflows were £3.1 billion of that total, with new defined benefit and defined contribution allocations, said LGIM. In the first half 2015, U.S. net inflows were £4.8 billion.
In the update, L&G said LGIM “is well positioned to handle the uncertain economic and political environment that lies ahead, and continuing fee pressure in asset management markets.”