M&G posts £10bn decline in FUM as it warns on Q4

Net retail outflows of £4bn in third quarter

M&G continued to suffer net retail outflows in the third quarter with nearly £4bn exiting funds, due to "weak investor sentiment" for fixed income, the company said.

In its parent group Prudential's results, it reported £3.9bn in retail net outflows, bringing the year-to-date figure to £7.3bn - this compares to £5.3bn of inflows for the same period last year. The outflows combined with negative market movements led to a £10bn to a decline in funds under management over the past year. Total AUM reduced from £257.3bn on 30 September 2014 to £247.5bn a year on. M&G suffers £3.4bn retail outflows as investors flee fixed income Total retail funds under management were £63.5bn at the end of September 2015, compared to £73bn on the same date last year....