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LGIM total assets up 14 per cent over 12 months to end Q3 2014


Legal & General Investment Management’s (LGIM) total assets under management increased by 14 per cent over the year to the end of September 2014, reaching GBP676.3bn (Q3 2013: GBP594.0bn).

This increase reflects net inflows of GBP8.0bn (Q3 YTD 2013: GBP20.7bn) and positive market movements.
LGIM has positioned itself to capitalise on the de-risking trend among UK DB pension schemes and to meet its clients’ changing requirements. It continues to see strong demand for its Liability Driven Investment strategies, with LDI assets increasing by 22 per cent to GBP273.0bn (Q3 2013: GBP222.9bn). Net inflows of GBP18.4bn YTD (Q3 YTD 2013: GBP14.1bn) more than offset outflows in LGIM’s UK index business, as schemes mature and move from growth strategies towards lower risk portfolios.
LGIM’s total international assets increased by 45 per cent to GBP86.5bn (Q3 2013: GBP59.6bn), with new flows of GBP7.2bn (Q3 YTD 2013: GBP14.0bn). In the US, there were further inflows into LDI and active fixed income, with AUM increasing 119 per cent to USD77.4bn by the end of Q3 2014 (Q3 2013 USD35.3bn), including the Global Index Advisors assets, acquired in May 2014, of USD23bn. 
Elsewhere, LGIM’s property business enjoyed continued demand from both retail and institutional clients, with net inflows of GBP1.1bn for the period (Q3 YTD 2013: GBP0.6bn). Against this backdrop, AUM increased 27 per cent to GBP13.2bn at Q3 2014 (Q3 2013: BP10.4bn).  
Mark Zinkula, LGIM chief executive officer, says: “Looking ahead, we expect demand for our LDI strategies to remain strong as the de-risking trend continues, both in the UK and elsewhere. At the same time, we are creating innovative new products relevant for our defined contribution clients. In particular, we’re expanding our multi-asset capabilities, with existing products growing rapidly and new products in the pipeline. Internationally, our US business continues to gather momentum as we extend our distribution capabilities and experience continued demand for our LDI and active fixed income products.” 

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