Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Legal & General IM records £38bn 2017 inflow

Legal & General IM records £38bn 2017 inflow

Legal and General Investment Management (LGIM) has posted an external net inflow of £38.1 billion in the year to end of October. 

In a trading update, parent Legal & General (L&G) said inflows were well-diversified by product line and geography, with its liability-driven investments (LDI), active fixed and property funds all attracting strong interest.

By the end of October, international net inflows were £26.1 billion, with £11.3 billion from the US and a further £10.9 billion from Europe. 

LGIM also said its US asset management business 'continues to deliver' with over 330 institutional clients and over $170 billion (£127 billion) of assets.

LGIM is looking to build on a stellar 2017 by building a European ETF business after recently announcing its entry one of the 'fastest growing segments in asset management'. 

It has also established a regional office in Tokyo to complement its capabilities in Hong Kong. 

LGIM has played a key role in what is expected to be a record year for L&G. 

The firm's retirement business recorded total sales to date of £6.2 billion, with the business showing strong momentum in the UK and US institutional pension risk transfer markets, as well as in individual annuities and lifetime mortgages.

Meanwhile annuity sales generated £4.5 billion of annuity premium, consisting of: £3.3 billion of UK institutional pension risk transfer business, $0.7 billion of US institutional pension risk transfer business and £0.6 billion of UK retail annuities.

Additionally it has doubled its institutional pension risk transfer business in the US versus 2016 and has now written over $1.6 billion of US business since entering the market. 

L&G chief executive Nigel Wilson (pictured) told the market: 'L&G is on track for a record year for earnings and profits.  Our core business divisions are generating formidable momentum.

'Our market-leading positions and strong balance sheet, coupled with our management capability is allowing us to benefit from global growth opportunities.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter