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LGIM reports 5 per cent rise in AUM

Legal & General Investment Management has reported a 5 per cent rise in assets under management in the first nine months of 2012, compared with the full-year 2011 figure.

Assets under management have risen to £391bn, up from £271bn at the end of 2011.

Legal & General Group also reported low net inflows of £100m into its retail savings business during the third quarter, compared with £600m a year earlier.

Group chief executive Nigel Wilson said: “The international expansion of LGIM is accelerating, with £5.6bn net inflows year-to-date from international clients.

“Global economies are undergoing profound structural changes. We have the solutions to meet gaps emerging from public and private deleveraging and the ambition to strengthen further our reach in protection, retirement solutions, fund management and infrastructure finance.

“Our businesses can grow, delivering more value for society, customers and shareholders.”



Aviva Wrap reveals Pension Portfolio charges

Aviva has revealed the new charging structure on its Pension Portfolio, available through its wrap. The structure gives clients a choice of three different charging models depending on the sophistication of their investments. Aviva says the move means clients will only pay for the fund range they invest in. The three options are called Core, […]

Credit Guarantee Scheme closes after four years

The Government has closed the Credit Guarantee Scheme more than four years after it was launched as part of a state bailout of the banking system. Starting at the height of the financial crisis in October 2008, the scheme guaranteed loans to encourage inter-bank lending at a time when the wholesale markets had virtually shut […]

FSA rubber stamps ban on non-advised sales

The FSA has stood firm on its proposal to ban non-advised mortgage sales, but has carved out administrative changes to existing mortgage contracts from the new rules. In its last mortgage market review consultation paper, which was published in December, the FSA proposed that non-advised sales should be banned where there is any form of […]

Why investors should beware of short-termism

There is a chronic affliction plaguing markets and it is proving remarkably difficult to shake off. It has always been a feature of daily market life, but over recent years its grasp has quietly extended . I am talking about short termism.Individuals, companies, politicians and policymakers have all been infected by this disease in some […]

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