[tag|Legal & General Investment Management|]Legal & General Investment Management inflows were up 5 per cent in the first quarter this year compared to the same period in 2013.

Legal & General Investment Management inflows were up 5 per cent in the first quarter this year compared to the same period in 2013.

Flows reached £3.8 billion ($6.4 billion) in the first three months and the firm now has assets under management of £463 billion.

LGIM’s international business received net inflows of £2.6 billion with continued growth in its America’s LDI and active fixed income products. International assets under management now total £63.2 billion, up 21 per cent on the first quarter in 2013 which stood at £52.4 billion.

“LGIM has made a good start to the year with net inflows of £3.8 billion during the first quarter and total assets under management rising to £463 billion. Net inflows for LGIM America, in particular, were once again significant as we enjoyed continued growth in Liability Driven Investment (LDI) and Active Fixed Income assets," said Mark Zinkula, LGIM's chief executive. 

Meanwhile LGIM’s bolt-on acquisition of US-based Global Index Advisors for up to $50.4 million, announced in February, is on track for completion in May 2014. The assets of $15.6 billion (as at year-end 2013) will provide the group with scale and distribution in the $6 trillion US DC market. 

Its UK retail AuM continued to grow with net flows of £0.3 billion.

"In the UK, we experienced strong demand for our LDI strategies from pension funds looking to de-risk. In the UK we are also making good progress in growing our DC and retail businesses,” added Zinkula.