M&G earn­ings halve as in­vestors head for exit

The Daily Telegraph - Business - - Business -

Profit at M&G, the fund man­ager spun off from Pru­den­tial in Oc­to­ber, plunged in the first half of 2020 as re­tail in­vestors pulled a net £7.7bn from its funds. An in­crease in de­mand from in­sti­tu­tional in­vestors failed to off­set the ex­o­dus, with over­all out­flows at £4.1bn. Pre-tax profit came in at £665m, down from £1.4bn a year ago.

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