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Pru sets out next raft of M&G mergers

Prudential has unveiled the next wave of funds it wants to merge into M&G funds as part of a move to separate its retail and insurance arms.

Pru’s £184m distribution funds is being merged into the £13.5m M&G multi-asset income fund, the £576m Pru income fund is being merged with the £490m M&G global dividend fund and the £2.3bn Pru UK growth trust is being merged with the £495m M&G UK growth fund.

Pru’s £18.3m Japanese growth trust is being merged with the £35.4m M&G Japan fund while the Pru £96m international growth trust is being merged with the £913m M&G global growth fund.

In June, Pru merged five funds into their M&G counterparts. In June, the firm said it planned to merge another 17 Pru funds into the M&G range over the next 12 months. The mergers will leave Pru’s product range with five dynamic portfolios and two multi-asset funds.


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Old Mutual chief exec Bob Head resigns

Old Mutual Wealth Management chief executive Bob Head is to leave the firm. Head has been with Old Mutual since 2003 and took up his current role in 2009 under the remit of bringing together the businesses of Skandia UK, Skandia International, Skandia Investment Group and Skandia Continental Europe. Old Mutual says when Head took […]


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