Legal & General Investment Management (LGIM) has managed to grow its assets under management beyond the £1trn mark in 2018, but the index funds offering suffered £14.8bn of net external outflows over the period.
The group's attracted external net flows of £42.6bn last year, although these were slightly below last year's figure of £43.5bn. This helped total assets grow by 3% from £983bn to £1.015trn. The largest proportion of net flows went into its solutions offerings, which took in £47.6bn over the year; global fixed income was also popular, attracting £9.6bn in external net flows. However, it was let down by its index funds business, which suffered £14.8bn in external net outflows during the year. Combined with the detrimental effect of market movements, this area of the business saw its to...
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