M&G is increasing its annual marketing budget to £16m this year from £12m in 2000 and revamping its ads in a bid to raise its profile.
As part of the new drive, it is rebranding as M&G Investments and will running an Isa season campaign costing £9m, up from £5m last year.
In the Isa campaign, M&G is pushing its British opportunities, global technology, European smaller companies, recovery, international growth, UK growth funds and the newly launched global fund, using strap lines such as “Comparison, no comparison.”
The advertising aims to build on independent research which ranked M&G as fifth out of 40 fund managers on past performance. The campaign includes poster advertising around the UK at railway and Underground stations and 91 motorway service stations. Back-lit poster sites are being unveiled in the City of London and there will be advertising on 250 London bus routes.
For the first time, M&G is advertising in national newspapers outside the finance section, with a spend of £500,000. It is also spending £150,00 on trade press advertising.
M&G has previously targeted IFAs through a series of joint roadshows with Schroders, reaching over 1,000 intermediaries at seven venues.
It says the increased advertising should benefit IFAs.
Head of UK retail Gary Shaughnessy says: “We have spent a lot of money in developing our brand over the past few years and research shows that it is one of the most respected.”