M&G lands record retail inflows as it combines with Prudential

M&G Investments has landed record net retail inflows for the first six months as it prepares to combine with with its parent Prudential UK & Europe to create a vertically integrated savings and investments business.

European investors piled into Optimal Income, Global Floating High Yield and the multi-asset fund range, H1 results show, with total retail net inflows totalling £5.5bn, while institutional money took total net inflows to £7.2bn.

Total assets under management over the period increased 6 per cent to £281bn with £149bn managed on behalf of external clients.

Prudential group chief executive Mike Wells says the combined business will be called M&G Prudential – “a savings and investments business focused on meeting growing customer demand for comprehensive financial solutions”.

“Combining these businesses will allow us to better leverage our considerable scale and capabilities. This will enable us to increase our growth prospects by providing better outcomes for our millions of customers.”

The combined business will manage £332bn of assets.

Prudential’s asset management in Asia Eastspring Investments also attracted net inflows totalling £2.3bn, with strong sales in its equity, fixed income and balanced fund range, taking total AUM to £130.5bn.