M&G net retail sales soar 356% to £4.1bn

M&G posted a record £4.1bn net retail inflow in the first half of 2009, with more than £3bn placed in the group's range of fixed income funds.

The net retail inflow was a 356% increase on the £900m seen in the same period last year, and even shattered the group's full-year net retail inflow record of £3.1bn in 2006. Overall, M&G saw a £8.6bn net inflow in H1; more than treble the £2.4bn taken during the corresponding period last year. In retail, M&G says the a very high proportion of the money continues to pour into its high-profile fixed income funds, run by the likes of Richard Woolnough and Jim Leaviss, as investors look to take advantage of the opportunities in corporate bond markets. However, M&G also noted its key e...