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Bringing you news, views and analysis since 2013

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LGIM reports strong performance across all divisions

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Legal and General Investment Management (LGIM) has reported strong performance across all divisions in Q3 2013 including an increase in net cash of 20 per cent.

LGIM’s Q3 gross inflows are up 71 per cent to GBP15.4bn (Q3 2012: GBP9.0bn).
 
Year-to-date gross inflows are up 65 per cent to GBP42.1bn (2012: GBP25.5bn).
 
Total assets under management (AUM) are up to GBP443bn, while inter nation AUM is up to GBP57bn.
 
Nigel Wilson, group chief executive, says: "Another strong quarter for Legal & General with gross inflows and premiums well ahead of 2012. All divisions contributed to our broad-based growth. We are executing well and at pace; four acquisitions have been successfully completed and net cash is up 20 per cent.
 
“We are known for providing value for our eight million customers and are working closely with government and regulators to help customers get the best possible deal. LGIM, whose fees average just over 0.1 per cent and Cofunds, whose platform fees are less than 0.3 per cent, offer outstanding value to both institutional and retail customers. We have capped auto enrolment charges at 50bps – and we believe nobody saving for a workplace pension in standard default funds should have to pay more than this. The government's proposed 75bps cap needs to be strengthened in our opinion: reducing it to 50bps could benefit pension savers by tens of thousands of pounds over a working lifetime."

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