mang sees 329 net inflow boost

M&G witnessed a 329% jump in net inflows over the year so far as improved investor appetite led to record performance from the asset manager.

mang sees 329 net inflow boost


According to the latest interim management statement from Prudential, the company’s owner, net inflows over the first nine months of 2012 amounted to £11.3bn, up from £2.6bn one year earlier.

Retail business contributed £6.1bn to total net inflows, with institutional business accounting for the remaining £5.2bn. Retail flows saw a £134% increase over the period.

Net inflows during the third quarter totalled £6.4bn, compared with the net outflow of £300m that was seen in the same period of 2011. At the end of the quarter, M&G was the UK’s largest retail fund manager with assets under management of £41.4bn.

The statement said: “M&G has delivered a record level of net inflows in the third quarter of £6.4bn as retail investors, particularly in mainland Europe, returned to the market after a period of extreme risk aversion last year.”

However, the group warned that M&G’s net retail fund sales are likely to slow in the coming months. This is owing to the asset manager’s move in July to restrict flows into Richard Woolnough’s £6.3bn Corporate Bond and £5.1bn Strategic Corporate Bond funds.



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