Anne Richards, Chief Executive, M&G Investments
The market for savings and investments is changing fast – and we have to change with it. We believe we’ll be best placed to meet your changing needs by combining the complementary strengths of M&G and Prudential’s UK and European operation.
Our two businesses already collaborate closely. M&G manages most of Prudential’s UK life assets, including two-thirds of the very successful PruFund. So the creation of the new business we are announcing today is the next obvious step.
M&G is recognised for its active fund management across the full range of major asset classes – from bonds and equities, to multi-asset, real estate and private debt. We also have an extensive institutional and wholesale distribution network.
Prudential is a leader in the provision of managed funds which offer savers market returns which are adjusted for volatility, as well as being strong in liability-driven investments. It also has an excellent profile in the UK retail market.
In this new combination, M&G’s fund managers will be able to offer their expertise to a wider range of clients and in a broader set of financial formats, whether direct investors, wholesale intermediaries or institutional clients such as pension funds.
We will also be able to invest more efficiently in the growth of our business, including the improvement of client service through new digital channels. Above all, we will have the scale to service your changing needs.
Our priority, of course, is to do all this without any disruption to you. We are keeping both brands and you should see no change in your interactions with us: our investment teams will run the same funds and investment strategies, our relationship teams will service the same clients.
I believe this is a powerful combination which will enable us to offer more choice and a better service to you, our customers.
For the announcement from Prudential PLC and to view a video, please click here.