US and Gulf business helped Legal & General Investment Management (LGIM) gain record inflows in 2012, the asset manager says.
Last year LGIM saw overall net inflows of £7.1 billion (€8.2 billion), which compares to £3 billion in 2011.
Net inflows from international clients were £7.8 billion compared to £4.5 billion in 2011, and international assets under management increased by 34% to £43 billion compared to £32 billion in 2011.
Total assets under management across the business grew 9% to £406 billion and revenues rose to £446 million compared to £417 million in 2011.
Mark Zinkula, chief executive officer, says LGIM had seen “tremendous growth” in its international business over the year.
“In the US, we are very well placed to capitalise on the de-risking trend due to our growing reputation as a thought leader in LDI and the strength of our fixed income team.
“We have extended our distribution capabilities in the Gulf and Europe and as a result are seeing increasing interest in our index, active fixed income and property funds,” he says.
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