Legal & General Investment Management has seen its operating profit rise 11 per cent as external net inflows increased by more than £30bn.
In the latest results, released today, assets from external sources rose from £7.5bn in 2014, to £37.7bn in 2015. The flows were seen across “every client segment, region and product level”, the company says.
As a result, the asset management arm of L&G saw operating profits rise from £321m to £355m for the year.
Assets in liability driven investment and multi-asset products rose by 15 per cent to £338.2bn. Active fixed income products saw external net flows of £6.8bn, up on the £1.7bn seen last year.
Assets in the retail business at LGIM rose to £19.9bn, up on the £18.1bn seen last year. Multi-asset, property and index funds all saw strong flows, the asset manager says.
Real asset products saw lower net inflows than the previous year, with total net inflows of £1.4bn compared to £2.4bn last year.
L&G’s platform Cofunds – which is subject to bids from Aegon and Bravura/Capita – saw inflows fall by £1.9bn to £3.5bn over the period.