Legal & General Investment Management won £13.2bn (€21.3bn) in net institutional mandates in 2001, the largest gain in UK mandates by a single fund manager announced to date.

The firm is a passive fund manager and has benefited from a significant industry move towards index tracking in recent years. A company spokesman said the rate of inflow had not slackened this year and showed no signs of doing so, despite a significant fall in the indices since 1999 that could have put potential investors off. A number of large local authority pension fund wins had helped in 2001.