The UK’s largest money manager, Legal and General announced its annual results earlier in the week
Some salient points from the results:-
-Full year dividend of 17.57p per share (2019: 17.57p) (maintaining the dividend year on year)
-Assets Under Management up 7% at £1,279bn (2019: £86.4bn; £1,196bn)- -That is £1.279 Trillion. (yes TRILLION)
-Our traded credit portfolio (excluding gilts), which is actively managed, has had no defaults
-That means all the debt it owns (bonds) have not defaulted, thus Legal and General as a creditor to large companies, those large companies have paid all debt repayments to Legal and General.