M&G UK retail inflows rise 216% last year

M&G posted a 216% rise in UK retail net inflows last year, with the £6bn net total accounting for almost a quarter of all IMA sales.

The group says its top-performing fixed income funds, run by the likes of Richard Woolnough and Jim Leaviss, accounted for the lion's share of inflows for most of the year. However, it says investor appetite switched to its equity and property funds during the second half of the year. Net sales remained robust in the fourth quarter, with the retail business attracting £1.8bn of net new money, more than double the £700m taken in the same quarter in 2008. In the three years to December 2009, 38% of M&G's retail funds delivered top-quartile investment performance. "The collapse in ban...