M&G to start £500m share buyback programme after demerger commitments met 'well ahead' of target

AUM up 0.8%

M&G has announced a £500m buyback programme in its annual results after hitting its demerger targets ahead of schedule, and reported an increase in assets under management and administration (AUMA).

AUMA rose 0.8% year-on-year in 2021 to £370bn, following net client inflows of nearly £5.8bn into its institutional asset management franchise and "continued improvement" in retail asset management flows. It reported a return to net client inflows excluding Heritage of £0.6bn, compared to net client outflows excluding Heritage of £6.6bn in 2020, citing the £2bn of net client inflows into its asset management business in the year, following net client outflows of £6.8bn in 2020. M&G partners with Moneyfarm in D2C launch Adjusted operating pre-tax profit was lower at £721m for the ye...