Jefferies has reiterated its ‘buy’ rating on M&G after the company’s wholesale asset management business reported £1bn of net inflows.
In a research note on Thursday (8 June), the broker said the inflows, largely coming from the UK, make the business one of the top five managers by net flows in the first quarter of 2023. "Such growth has been driven by improving performance, with 68% of funds in the upper two quartiles over one year and 75% over three years," the firm added. M&G to make 4% of staff redundant via voluntary scheme In the group's Q1 2023 trading update, M&G CEO Andrea Rossi said the wholesale inflows "more than offset the expected redemptions from institutional clients and drove inflows into high-ma...
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