Legal & General Investment Management delivered another set of healthy new business results during the first quarter of 2012.
Net new business inflows were up 29% to £2.6bn (Q1 2011 £2.0bn) and total assets under management grew to £383bn (FY 2011: £371bn).
Legal & General Investment Management’s Active Fixed Income and Liability Driven Investment (LDI) solutions capabilities continue to be in demand. Combined gross new business flows in to Active Fixed Income and LDI increased to £3.0bn (Q1 2011: £2.4bn).
Legal & General Investment Management’s international diversification continues at pace, with assets under management from international clients increasing to £20.3bn (FY 2011: £18.3bn).
Mark Zinkula, Chief Executive Officer (LGIM) said “We have enjoyed an impressive quarter of growth. Our Fixed Income proposition continues to be popular with clients, and our LDI solutions capabilities are increasingly recognised and sought after – it is particularly pleasing to see these areas attract gross inflows of £3.0bn from new clients this quarter. Our international diversification remains a focus and we continue to see positive growth there.
Markets and the economic situation remain challenging but I am extremely confident that LGIM is well positioned to capitalise on the opportunities these conditions will present.”
