Legal & General Investment Management (LGIM), part of the Legal & General Group, pushed operating profits up 5% to £159m (2013: £152m) for the first half of the year.
It also reported assets under management up 7% to £465.1bn (£433bn), whilst total assets rose 13% to £653.7bn (£578.7bn).
On a Group basis, Legal & General reported operating profit up to 11% to £636m (£571m).
As regards future prospects for LGIM, the company’s interim results statement said: “As the UK defined benefit market matures we expect it to continue to de-risk. This will impact our passive equity funds backing DB schemes but will benefit our growing LDI business, where LGIM is the number one player in the market. Also in the UK, we expect growth in the defined contribution market as well as our property and multi-asset offerings.
“LGIM’s international business continues to gather momentum, particularly in the US, where we are expanding our distribution capabilities and enhancing our product offering across LDI and active fixed income, and into indexed products. Elsewhere LGIM remains focused on opportunities in Europe, the Gulf and Asia.”
