M&G sees UK retail outflows accelerate to £900m in Q1

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

The fund house reported positive net flows of £700m in parent Prudential's Q1 results, driven by £1.5bn in net new retail business in Continental Europe. However, the asset manager said this was offset by accelerating outflows in the UK retail market which rose to £900m, up from £300m for the same period last year and around £600m in Q4 2014. Stuart Rhodes' Global Dividend fund, Tom Dobell's Recovery fund, and Randeep Somel's Global Basics fund are among the portfolios that have seen the largest outflows in the first three months of the year, according to FE estimates. M&G added th...