Legal & General Investment Management’s strategy of international expansion is paying dividends. International net inflows of £5.6bn year to date have been a key factor in growing assets under management to a record £391bn at Q3 2012, up 5% on FY 2011 (£371bn).
The YTD international net inflows of £5.6bn are a significant increase on the £1.9bn achieved over the same period last year and included new clients from the US, Gulf, Europe and a first mandate in Asia. Total international AUM is up 25% to £39bn compared to the end of 2011.
Net inflows were up 28% to £4.6bn (Q3 2011 YTD £3.6bn) driven by strong net inflows into LDI and Active Fixed Income products of £3.3bn, with the majority of this from international clients.
LGIM’s focused approach to LDI and Active Fixed Income has been particularly successful in the US. LGIM America almost doubled its client base from 16 clients in 2011 to 31 at YTD Q3, with AUM now at $31bn compared to $24bn at the end of 2011.
Regulatory approvals have been secured to enable our Index capability to be marketed in the US, allowing LGIM America to extend the range of products available to US clients.
Mark Zinkula, Chief Executive Officer (LGIM) said, “We have focused the last several years on expanding internationally and these figures are clear evidence that this approach is proving extremely successful despite the challenging global economic backdrop.
While growth this year has been primarily driven by clients allocating to our LDI and Active Fixed Income strategies, we have not lost sight of the importance of continuing to grow our high quality Index offering. I am delighted that regulatory approvals have been secured, enabling our Index capability to be marketed in the US and thus enabling more clients to benefit from our market-leading Index offering.”
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