Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

LGIM sees £8.4bn passive outflows but total AUM soar by 7% in H1

LGIM sees £8.4bn passive outflows but total AUM soar by 7% in H1

Legal & General Investment Management (LGIM) saw £8.4 billion assets of net outflows from its index funds in the first half of the year but total assets under management rose by 7% to £465.1 billion.              

The said that the continued derisking of defined benefit schemes is likely to reduce their usage of passive equity funds although the impact of this will be offset by the growth in its liability driven investment funds.

At the wider group level, Legal & General's after tax profits rose by 9% to £507 million, up from £466 million in the same period last year. This prompted the board to raise the dividend by 21% to 2.9p per share.

Group chief executive Nigel Wilson (pictured) said:  'These are strong financial results with dividends once again growing over 20% and a return on equity of 17.6%. We continue to deliver good growth on all other key metrics.

'We are successfully executing our strategy connecting our five long-term macroeconomic and demographic trends to real business outcomes. Strong business performance across a well-diversified range of insurance, savings and investment markets underpins consistent earnings quality and dividend growth and enables us to respond positively to the ever changing political and regulatory landscape.'

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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter