The business's international assets under management grew 67 per cent year-on-year to £115.8 billion as it expanded outside its home market, particularly in the US and Asia. This included the transfer of £37.5 billion of US assets to LGIM’s Chicago office last year.

“We have strengthened relationships and expanded distribution to accelerate our international growth and continue to see strong demand for our solutions and active fixed income products,” the group said in its results statement. 

“In H1 2015, we successfully won our first multi-billion dollar US index mandate, and in Asia won mandates in Japan, Taiwan and Korea, expected to fund in H2.”

The group attributed LGIM's 62 per cent year-on-year growth in external net flows to £13.8 billion to particularly strong performance in the UK and the US across active fixed income and solutions, as well as property asset classes, which saw assets under management increase 23 per cent to £15.8 billion.

In spite of an 18 per cent dip in advisory assets to £11.3 billion, LGIM's revenue jumped 12 per cent to £347 million and operating profit grew from £149 million a year ago to £176 million.

Legal & General as a whole enjoyed an 18 per cent climb in operating profit to £750 million, of which £280 million came from its retirement business, which appeared to have benefited from the British pension freedoms introduced in April. Net cash generation was up 11 per cent to £629 million, leading to a 7 per cent increase in earnings per share to 9.11 pence. The company increased its interim dividend by 19 per cent to 3.45 pence per share.