M&G sees £1bn net outflow from UK business year to date

M&G reported a net outflow of more than £1bn in the UK during the first nine months of the year, although this was offset by strong sales in Continental Europe, the group said.

According to parent company Prudential’s third quarter results, M&G’s total year to date retail net fund inflows totalled £5.3bn, of which £1.5bn was taken in the third quarter of the year. The Continental Europe business continued to drive growth, with net inflows of £6.2bn for the first nine months of the year, offsetting net outflows of £1.1bn in the UK. M&G attracted total net fund inflows of £1.7bn during Q3, contributing to cumulative net inflows for the nine months to September 2014 of £5.9bn, down from £8.9bn the previous year. The group's decision to stem flows into its m...