07/05/2015
M&G posts inflows of GBP680m in first quarter
In first quarter, M&G Investments, an affiliate of Prudential, earned net inflows of GBP680m, compared with GBP1.44bn as of first quarter 2014, a decline of 53% year on year, according to quarterly results.The British asset management firm had earned GBP558m in net subscriptions from retail clients as of the end of March, compared with GBP1.29bn as of the end of March 2014. Assets under management for retail clients are nonetheless up 9.7% year over year, to GBP75.67bn as of 31 March 2015. In this retail segment, continental Europe has driven sales activity, with EUR1.5bn in net inflows in first quarter 2015. Assets under management in international retail funds alone now total a record GBP32.7bn as of 31 March 2015, representing 43% of total retail assets at M&G.In first quarter, M&G has also reported net inflows of GBP122m from institutional clients, compared with GBP152m in net subscriptions in first quarter 2014. Assets under management for institutionals now total GBP63.8bn as of the end of March 2015, up 7% year over year.Lastly, adding up these total net inflows and positive market effects, total assets under management at M&G for third parties comes to GBP139.5bn as of 31 March 2015, up 8% year over year. They now represent nearly 52% of total assets under management at M&G. With the addition of assets under management for its parent company Prudential, assets at M&G stand at a record total of GBP269.6bn as of the end of March 2015, up 9% year over year.
