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Pru transfers £12bn to Deutsche

Prudential, the UK&#39s largest fund manager is transferring £12bn of its fund management mandates to Deutsche Asset Management.


The life office says it is to focus on retail and pensions, following last year&#39s £1.9bn acquisition of M&G, the niche fund manager.


Up to 50 clients will be affected by the move and not all are likely to go to Deutsche, which is embroiled in the merger between Deutsche and Dresdner Bank.


SG Securities insurance analyst Charles Landa says: “Given it&#39s a small part of Prudential&#39s assets, it does make strategic sense to focus on their core business where there is potential for earning higher margins.”

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