LGIM profits drop 20% as £225bn scrubbed from AUM

In its full year 2022 results, the firm reported that operating profit was down 20% from £422m in 2021 to £340m at the end of the year, and its AUM followed a similar trajectory, decreasing by £225bn to £1.1trn. External net flows remained strong however, increasing by 43% to £49.6bn compared with £34.6bn the previous year. Nearly half of these flows (43%) came from international clients and LGIM saw continued growth in higher margin areas such as thematic ETFs and multi-asset. LGIM launches low-carbon Japanese and Asian ETFs However, the positive flows were offset by defined benef...