Legal & General investment management have become the UK’s first investment management firm to hit £1trn.
The firm had a spate of infrastructure deals in 2017, they put money into clean energy, commercial real estate and residential property.
The company saw assets under management rise 3% to £1.02trn.
Nigel Wilson the chief of Legal & General said the negative impact of political uncertainty was having on asset prices, although L&G performed strongly.
Wilson said, “2018 saw political uncertainty, asset market declines and slowing economic growth, but we are resilient and performed strongly.
“We became the UK’s first £1trn investment manager, executed a record £9bn of pension risk transfer deals and invested billions in the UK’s future infrastructure and cities.”
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