M&G net retail inflows climb 32% to £1.92bn in Q2

M&G posted a 32% jump in net retail inflows over the second quarter, with the asset manager recording £1.92bn of net sales.

The net retail inflow increased from the £1.45bn generated over the first quarter of the year. After a substantial year for net inflows in 2009, largely due to the strong sales for Richard Woolnough's Corporate Bond fund, M&G says sales have come in higher than expected over the first six months of 2010. "We had expected inflows to return to more normal levels this year after a record 2009 for M&G, when clients invested heavily in its top-performing bond funds to exploit a near unique opportunity in fixed income markets," the group says. "However, retail fund flows have continued t...