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.