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M&G inflows up 78% in first nine months

M&G has taken in more net new money in the first three quarters of the year than in the whole of 2005, which was a record-breaking sales year for the firm.

Gross fund inflows in the first nine months are up 78 per cent, hitting £9.98bn, compared with £5.6bn over the same period last year while net fund inflows have almost doubled to £5.1bn. Looking at pure retail money, gross inflows almost doubled to £5.1bn, with net inflows reaching £2.6bnIn the UK, data from fund research company Feri reveals that M&G pulled in the second-highest net retail sales in the industry.

Managing director of UK sales Jonathan Willcocks says that while the group’s strategic positioning with two property funds, and continued strong recent equity performance, particularly across its UK and global equity funds, have been key drivers of sales growth, its traditional strength in fixed interest continues to attract strong inflows.

European loans fund has now passed the euro1bn mark since its launch last August.

The firm’s onshore and offshore property funds now have assets of £1.4bn.

The onshore fund has doubled in size from £400m to £800m since it was launched last November and the offshore original, which launched in March 2004, from £200m to £600m.

Willcocks says: “In the late 1990s and early 2000s bond funds were our biggest sellers but our equity sales have grown strongly over the past three to four years and we have the products and performance everyone wants.”

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