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M&G inflows increase 329% to £11.3bn

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M&G has seen inflows rise 329 per cent to £11.3bn during the first nine months of the year, up from £2.6bn for the same period in 2011.

Parent company Prudential group chief executive Tidjane Thiam lauded “record net inflows of £12.3bn” for its asset management division, which were supplemented by inflows of £1bn into Asia asset manager Eastspring Investments.

He says: “This is our best ever performance at the nine month stage, surpassing the historically high level of net inflows achieved in 2009.

“M&G has benefited from its strong investment performance and broad range of attractive funds across asset classes as retail investors, particularly those in continental Europe, are starting to invest again after a period of extreme risk aversion observed in 2011.”

The asset manager saw inflows of £6.4bn during the third quarter of 2012, compared with outflows of £300m for the third quarter of 2011.

However, it has warned net retail fund sales in the UK could slow as a result of its decision to slow inflows into two of its corporate bond funds.

Funds under management increased by 12 per cent to £216.9bn , compared with £194.4bn at 30 September 2011. Its retail operations saw assets under management increase between the second and third quarters to £52bn, up from £48.3bn.

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