M&G recorded wholesale asset management inflows for the first time since 2018 last year, at a time when the firm is surrounded by rumours of a takeover bid.
In the firm's annual results released today (9 March), M&G said its net client inflows reached £500m last year, compared to £3.8bn in outflows in 2021. It credited the positive flows to measures it had taken to improve investment performance, noting that 68% of funds are now in the top half of performing funds over the last year, compared to just 45% in 2021. However, its adjusted operating profits dropped to £529m from £721m in 2021, which the firm credited to a £172m loss in non-cash items from "duration mismatching losses in the annuity portfolio and foreign exchange losses on our ...
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