Legal & General Investment Management has begun to shed its image as a passive manager having brought in more than double the number of actively managed new client assets in the first half of the year.

LGIM, the institutional investment manager which is a dominating force in index-tracking funds, brought in new assets totalling £21bn (€25.3bn) over the first half of the year, the company revealed in its interim report today. Undisclosed outflows and market movements meant the company's assets only grew from £315bn to £320bn in that time.