M&G reports £3.4bn of retail sales
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M&G says it continues to outsell “all of its competitors” in the UK retail market, and overall external funds under management rose by 8 per cent in the first half to £75.7bn.
The Prudential-owned asset manager says its net retail inflows were £3.4bn in the UK and Europe.
In the UK its retail assets under management grew 13 per cent in the first half of 2010, compared with growth of just 4 per cent for the market as a whole.
This gave it a 10 per cent share of gross industry retail inflows and a 19 per cent share of net retail inflows, the group says.
Net overall inflows were £4.7bn in the first six months of 2010, contributing to a total rise of external and internal funds under management by 2 per cent to £178.5bn, it says.
This is 19 per cent higher than the end of the first half in 2009.
A group statement said: “Much of this is due to excellent investment performance.
“Over the three years ending 30 June 2010, 34 per cent of M&G’s retail funds ranked in the top quartile and 66 per cent of funds in the top half.
Operating profits for the first half rose to £122m, a 63 per cent gain compared with the same period in 2009.
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