Legal and General
Investment Management (LGIM) has announced first half operating
profits of £97.8m, an increase of 32.2 per cent over the same
period in 2009.
This strong financial performance has been attributed to the
business continuing to grow, whilst keeping a strong control over
the cost base.
LGIM revealed that new business inflows were £21.2bn compared to
£14.2bn in the first half of last year.
More than 30 per cent of new business came from non-index mandates,
reflecting LGIM's strategy of broadening its products and
services.
Kevin Gregory, interim chief executive of LGIM, commented:
Our strengths in terms of our
investment capabilities and client service are recognised by
the
investment consultant community and rewarded by long-term
client relationships.
Even though the global economic outlook remains challenging,
I remain confident that with this approach we will continue to
prosper.
Legal and General is a
financial services company that provides
insurance,
pensions and
investments .
