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M&G defies bond bear as AUM hits fresh record
by David Campbell on May 08, 2014 at 10:26
Investors poured £1.4 billion into M&G mandates over the first quarter of the year with continued strength across Europe helping to offset outflows within the UK.
Retail investors delivered £1.3 billion in net sales over the period, up 12% on the same period of the year before, driving total assets under management to a record £248 billion, up 4% over 12 months.
Institutional investors experienced ‘small’ inflows, but parent group Prudential said the company had a far stronger pipeline of new business of currently unfunded commitments in the rest of 2014.
‘Our asset management businesses have made a positive start to the year,’ said Prudential chief executive Tidjane Thiam (pictured).
External funds now make up the majority of the group’s assets, up 8% over the year to £128 billion.
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