M&G

As equities reach record highs and fresh volatility hits fixed income markets, Investment Week asks if cash is now looking like a more appealing proposition.

Richard Woolnough, manager of the £24bn M&G Optimal Income fund, says he is at a loss to understand why the US is holding off on raising interest rates.

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M&G has reported a rise in UK retail outflows for the first quarter, and acknowledged the outlook for future flows remains "uncertain".

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M&G's fixed income manager Richard Woolnough received a hefty pay package in 2014, larger than that of parent company Prudential's CEO Tidjane Thiam, according to reports.

The M&G Episode Income fund has seen a substantial shift in asset allocation over the past 12 months, boosting returns to drive it up the sector rankings.

M&G has reported a fifth consecutive year of record profits despite net outflows for its UK business increasing to £1.7bn in 2014.