M&G Investments, one of Europe’s leading asset managers, has reported record net retail fund sales of €8.9 billion in its established European markets and in Asia in 2013.
This marks a 46 per cent improvement on the previous year. Retail assets under management in Europe totalled €28.5 billion at the end of 2013, a 64% increase over the 12 months. They now represent 35 per cent of total retail assets under management.
Net retail fund sales were strongest in Italy, Spain, Switzerland and France.
At a group level, M&G posted total net inflows of €11.2 billion. M&G has attracted an accumulated total of €62.4 billion in net sales over the past five years.
Total assets under management were 7 per cent higher at the end of the year at €293.3 billion. External client assets rose 13 per cent to €151.4 billion, nearly treble their level at the end of 2008. Third-party clients now account for 52 per cent of the total assets under management at M&G, with the balance of the assets belonging to Prudential Group PLC, M&G’s parent company.
M&G’s most popular products were the M&G Optimal Income Fund, an international flexible bond portfolio, and the M&G Global Dividend Fund. During the year, 10 M&G retail funds attracted net inflows of at least £100 million (€117.8 million).
Ignacio Rodríguez, sales manager of M&G Investments for Spain, Portugal and Latin America says: “M&G enjoyed its most successful year yet in Europe. Measured by funds under management, our international business has grown at an annual compound rate of 79 per cent over the past ten years.”