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LGIM Posts £117M Profit In H1

Legal & General Investment Management, a U.K. fund manager, reported that its profit increased 19% to £117 million in the first half of 2011.

Legal & General Investment Management (LGIM), a U.K. fund manager, reported that its profit increased 19% to £117 million in the first half of 2011, Financial News reports. LGIM got £17.9 billion of new business during the first six months of 2011.

The firm received inflows of £13 billion in index products and £4.9 billion in liability-driven investment (LDI) and other active funds. LGIM also saw outflows of £12.6 billion from index products and £2.3 billion from LDI in the first half of 2011.

Click here for the story from Financial News.

Click here for additional coverage from Citywire.

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