Profits Rise At L&G; AuM Rises At Investment Arm

Tom Burroughes

9 August 2016

, the insurance and investment management group that is listed in the UK, logged a pre-tax profit, attributable to shareholders, of £826 million ($1.07 billion) in the first six months of this year, a year-on-year rise of 23 per cent, it said today.

The investment management arm of the business made an operating profit over the first half of the year of £171 million, down from £176 million a year earlier, according to a statement from the firm.

Total assets under management at Legal & General Investment Management was £841.5 billion at 30 June, up from £714.6 billion, it said. There was a "significant" rise in the value of assets under management towards the end of June.

Shares in L&G were down around 4.7 per cent mid-afternoon today, at 207.7 pence per share.