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LGIM’s AUM rise 16% to £708.5bn despite sharp fall in inflows

Legal & General Investment Management witnessed flows into the group plummet by 63 per cent to £7.6bn during 2014.

On Wednesday the insurer published its annual results, highlighting that LGIM’s total assets under management rose by 16 per cent to  £708.5bn.

The fund management arm, however, saw net outflows rise from £200m to £16bn, as defined benefits passive funds sought to de-risk.

Overall total revenue rose from £594m to £645m with operating profit jumping by 11 per cent to £336m, up from £304m on the previous 12 months.

L&G group posted an 8 per cent increase in pre-tax profit from £1.1bn to £1.24bn while earnings per share rose 10 per cent to 16.7p, from 15.2p.

L&G group chief executive Nigel Wilson says: “The five global macro trends driving our strategy – ageing populations, globalisation of asset markets, welfare reform, digital connectivity and bank retrenchment – create long-term growth opportunities, which we position our businesses to capture.

“The rapid growth of LGIM’s international business to over £100bn, the £5bn of investment in physical assets in the UK, and our entrance into the lifetime mortgage market are all examples of the successful execution of our strategy.”



Nic Cicutti: ABI cannot pass the buck over ‘sore of legacy commission’

Many years ago, some time after the launch of Headlinemoney, the financial press and PR hub, I was contacted by its then legendary editor and publisher Roger Anderson. Roger informed me I had been nominated for an award and wondered whether I could provide a few words – based on a question and answer format […]


Clients need to be told IP is not ‘toxic product’

Advisers and providers have admitted more work needs to be done to prevent income protection being tarred with its “toxic” association with payment protection insurance. In a meeting held by the All-Party Parliamentary Group for insurance and financial services last week, chairman Jonathan Evans said income protection suffers from being confused with PPI. He said: […]

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Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


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