4 Investment management operating profit


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2008

£m

2007
Restated
£m

1.

The managed pension funds business within Investment management has been reported on an [IFRS] basis as management believe IFRS to be the most appropriate reporting basis for the investment management business. 2007 comparatives have been restated accordingly.

2.

Other income excludes £35m (2007: £23m) of profits arising from the provision of investment management services at market referenced rates to the covered business. These are reported on a look through basis within the Risk, Savings and Group capital and financing covered business on an [EEV] basis.

3.

Investment management operating profit excludes core retail investments, of £nil (2007: £12m), which has been disclosed as part of Savings. The comparatives have been restated accordingly.

Managed pension funds1

117

103

Private equity

(1)

Property

4

6

Other income2

17

15

Legal & General Investment Management

137

124

Institutional unit trusts3

(7)

(4)

Total Investment management operating profit

130

120

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