Soaring sales drive M&G to record inflows in Q3

M&G reported a record level of net inflows in the third quarter of £6.4bn, bringing total inflows to £11.3bn for the first nine months of the year, a 329% rise from 2011.

Prudential's half-year results show M&G's retail business has taken in £6.1bn year-to-date, while the institutional side has amassed £5.2bn of new money, largely due to one £4.4bn fixed income mandate. "Asset management has recorded net inflows of £12.3 billion led by M&G," said Tidjane Thiam, group CEO at Prudential. "This is our best ever performance at the nine month stage surpassing the historically high level of net inflows achieved in 2009." That was driven by the £11.3bn worth of inflows at M&G, a 329% rise on the £2.6bn in inflows seen in the first nine months of 2011. R...