M&G posts £3.4bn net inflow through first five months

M&G has recorded net inflows of £3.4bn over the first five months of the year.

While the group continues to post strong inflows, the figure was well under the £7.9bn in the corresponding period last year, when its corporate bond funds run by Richard Woolnough dominated investor flows. "After the exceptionally high levels of net new business experienced in 2009, this continues to be a strong performance in a re-invigorated and competitive environment," parent company Prudential says. Elsewhere at the insurance giant, it recorded group-wide sales of £1.36bn for the first five months of 2010, up 27% Its Asian business posted a 33% jump in sales, while new busine...