Legal & General Investment Management has seen significant outflows from its UK index funds in the first nine months of the year, which had a negative impact on overall inflows into the business.
Between January and September the investment management arm of L&G saw inflows of £8bn, compared to £20.7bn last year. The drop in inflows was attributed to £11.8bn net outflows from its UK index business, compared to a £2.4bn net inflow during the same period in 2013. However, surging sales of its Liability Driven Investment (LDI) strategies offset the index outflows, with £18.4bn of new subscriptions year to end of September. Nigel Wilson, group chief executive, said: "Over the last year, LGIM's total assets increased by £82bn to £676bn. International assets now exceed £86bn, and...
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