M&G

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M&G plc
TypePublic
LSE: MNG
ISINGB00BKFB1C65
IndustryFinancial services
Founded1931; 90 years ago (1931) (demerged 2019)
HeadquartersLondon, England, UK
Key people
  • John Foley (CEO) Edit this on Wikidata
BrandsM&G Investments
M&G Real Estate
Infracapital
Prudential
RevenueDecrease £5,796 million (2020)[1]
Decrease £1,605 million (2020)[1]
Increase £1,142 million (2020)[1]
AUM£ 367.2 billion (2020)[1]
Number of employees
c.6,000 (2020)[1]
Websiteglobal.mandg.com

M&G plc is a global investment manager headquartered in the City of London. It invests in and manages a wide range of assets including Equities, Fixed Income and Real Estate. It also manages more esoteric assets within the private finance arena such as Structured Products (including CDOs), Leveraged Finance, Project and Infrastructure Finance. After its de-merger from Prudential it has been listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History[]

Pre-2000[]

Municipal & General Securities Company Limited launched the first ever UK unit trust in 1931, the First British Fixed Trust.[2] It held the shares of 24 leading companies in a fixed portfolio that was not changed for the fixed lifespan of 20 years. The trust was relaunched as the M&G General Trust and later renamed as the Blue Chip Fund.[3]

M&G Investments introduced its savings or "thrift" plans in 1954.[4]

In March 1999 M&G Investments, which by then was the UK's largest unit trust group, was acquired by Prudential plc.[5]

2000–2020[]

In May 2016, it announced it was to launch a direct online investment service for retail investors to invest directly in its range of funds.[6]

In July 2016, M&G Investments suspended redemptions on its £4.4 billion Property Portfolio fund following heavy withdrawals after the referendum on the UK's exit from the European Union.[7][8][9]

In August 2017, Prudential plc (the parent company of M&G Investments) announced it would merge M&G Investments with its Prudential UK and Europe businesses to form a new division. The division would be called M&GPrudential, which the firm described as a savings and investments business. The business would control some £332 billion in assets with over six million customers.[10] Then in August 2019 it announced that it would de-merge the investment business as "M&G plc".[11] The de-merger was completed in October 2019.[12]

In December 2019, M&G was forced to gate a £2.5 billion property fund after liquidity was challenged. The company said it was due to Brexit and Election uncertainty.[13]

2020–2021[]

In 2020, it announced its intention to acquire Ascentric, a digital wealth management platform, from its competitor Royal London. The deal is expected to also transfer £14 billion in assets under management.[14] In August 2021, M&G acquired Sandringham Financial Partners. Sandringham will be part of M&G Wealth. The acquisition will bring more than £2.5 billion of assets under advice to M&G plc.[15]

Current operations[]

As of the FY 2019 end (March 2020), M&G managed £352 billions in assets on behalf of its clients. The heritage insurance business accounted for £143 billions of those, with savings and investments making up the rest. Within the latter are the retail and institutional asset management business and the with-profit funds. The company is servicing 28 markets from its 22 locations.[16] It still operates two fully owned subsidiaries: M&G Real Estate, providing global real estate investment services, and Infracapital, a specialised infrastructure investment firm.[17]

M&G has also extended its offering by branching out into sustainable investing. In 2018, it launched a positive impact fund.[18]

Sponsorship[]

M&G is the official sponsor of the RHS Chelsea Flower Show.[19] It also has a long history of sponsoring ski schools and advertising in European ski resorts.[20]

Notable current and former employees[]

Business[]

Sports[]

References[]

  1. ^ Jump up to: a b c d e "Preliminary Results 2020" (PDF). M&G. Retrieved 9 March 2021.
  2. ^ "Notes & Comments, The Fixed Trust:". The Glasgow Herald. 23 April 1931. p. 12. Retrieved 8 March 2017.
  3. ^ "M&G to merge Blue Chip away". Investment Week. 1 May 2006.
  4. ^ "PEPs bring power to the people". The Independent. 15 October 1995. Retrieved 4 October 2019.
  5. ^ "Pru buys M&G for agreed pounds 1.9bn". The Independent. 12 March 1999. Retrieved 4 October 2019.
  6. ^ "M&G online service to undercut fund supermarkets". FundsandShares.co.uk. Archived from the original on 16 August 2016. Retrieved 9 July 2016.
  7. ^ Sarah Jones (5 July 2016). "U.K. Property Funds Freeze $12 Billion to Halt Brexit Retreat". Bloomberg.com. Retrieved 9 July 2016.
  8. ^ Lazarus, Darren (5 July 2016). "Third U.K. Property Fund Halts Withdrawals Amid Brexit Market Turmoil". WSJ.com. Retrieved 9 July 2016.
  9. ^ "A $6 billion UK property fund stopped people withdrawing money after investors all rushed for the exit". Business Insider. Retrieved 9 July 2016.
  10. ^ "M&G and Prudential arms to merge". Citywire. 10 August 2017. Retrieved 4 October 2019.
  11. ^ "M&G goes 'full circle' as it reveals branding ahead of demerger". Portfolio Adviser. 14 August 2019. Retrieved 4 October 2019.
  12. ^ "Prudential Completes Demerger Of M&G, Shares Begin Trading In London". Morning Star. 21 October 2019. Retrieved 22 October 2019.
  13. ^ Lowe2020-02-25T18:22:00+00:00, Richard. "M&G keeps UK property fund suspended". Real Assets. Retrieved 3 July 2020.
  14. ^ "M&G acquires Royal London's £14bn Ascentric platform". Wealth Manager. Retrieved 3 July 2020.
  15. ^ "M&G plc to acquire Sandringham Financial Partners". Retrieved 24 August 2021.
  16. ^ "M&G Annual Report 2019" (PDF). M&G plc.
  17. ^ "Infracapital :: Home". www.infracapital.co.uk. Retrieved 3 July 2020.
  18. ^ Cheek, Sebastian (26 November 2018). "M&G launches positive impact fund". International Adviser. Retrieved 3 July 2020.
  19. ^ "The M&G Garden – The Retreat". BBC. Retrieved 4 October 2019.
  20. ^ "M&G Ski Branding Campaign". The Dots. Retrieved 3 July 2020.
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