M&G sees fresh £500m UK retail outflow in H1

clock

M&G has reported net retail outflows of £516m across its UK business in the first half of 2014, even as its European retail business continues to attract major interest.

Parent company Prudential said this morning that M&G's operating profits rose 11% to £227m in the first half, largely driven by net continental European retail inflows of £4.2bn. In the UK, however, the retail business saw net outflows of £516m between January and the end of June. M&G said UK sales are now “showing signs of stabilisation”, having seen net outflows of £1.2bn in the same period in 2013. UK retail had returned to net inflows in the second half of 2013, however, and some of the impediments to H1 2013 flows - such as the stemming of money coming into Richard Woolnough’s...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

UK GDP falls by 0.1% in May 'increasing chances' of August rate cut
UK

UK GDP falls by 0.1% in May 'increasing chances' of August rate cut

Second monthly decline in a row

Sorin Dojan
clock 11 July 2025 • 3 min read
ClearBank co-founder among executives meeting Reeves to discuss incentives for UK floats
UK

ClearBank co-founder among executives meeting Reeves to discuss incentives for UK floats

Meeting with chancellor on Wednesday

Sorin Dojan
clock 10 July 2025 • 1 min read
British Business Bank to spend £500m backing underrepresented entrepreneurs
UK

British Business Bank to spend £500m backing underrepresented entrepreneurs

Half going to female fund managers

Patrick Brusnahan
clock 10 July 2025 • 1 min read
Trustpilot