M&G confident of hitting year-end GBP2.5 billion inflow target in Life
M&G PLC on Thursday reported net flows in the third quarter, with growth in both Asset Management and Life divisions, although assets under management edged lower.
The London-based investment manager said assets under management amounted to £384.9 billion at the end of September compared to £387.4 billion at the end of June.
Net flows from open business totalled £1.8 billion, unchanged from the same quarter a year ago, taking the year-to-date total to £4.2 billion, thanks to continued growth in both Asset Management and Life.
In Life, M&G reported inflows of £1.2 billion in the quarter, taking the year-to-date sales to £1.8 billion.
"With a further [GBP800 million] in exclusivity, we are confident that we will end the year with more than £2.5 billion of inflows, growing more than 60% year-on-year. This strong result demonstrates our success in reigniting our Life business, where we expect further growth in 2027," said M&G Chief Executive Andrea Rossi.
In Asset Management, net inflows from external clients of £700 million in the quarter were primarily driven by continued growth from institutional clients both in the UK and internationally.
From an asset class perspective, Public Markets accounted for the majority of net inflows with £600 million in the quarter. Within Private Markets, client demand remained positive in Private Credit and Real Estate, M&G added.
Shares in M&G were up 1.3% at 330.90 pence each in London on Thursday just before noon.
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