View more on these topics

M&G reports £3.4bn of retail sales

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.

Recommended

9

Will the regulatory landscape change for the better?

Last month, the Chancellor announced the new financial regulatory structure which will replace the FSA and now the Treasury has published its consultation paper on the proposals for reform. The new structure comprises four new bodies: the Financial Policy Committee and Prudential Regulation Authority will be accountable to the Bank of England and the Consumer […]

18

Projection rates are pension nightmare

The projection rates that pension providers are now using for cash and fixed-interest funds vary by as much as 1.5 per cent, making it a “nightmare” for advisers to compare products, according to O&M Systems. The firm has hit out at the FSA for failing to produce guidance on acceptable projection rates after clamping down […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com