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Throughout our history, we’ve always endeavoured to find new ways and new markets in which to put our customers’ savings to work.
US construction and engineering company JG White establishes a UK operation. Its need for a securities business to finance the building of subways and trams will eventually lead to the formation of M&G.
Municipal and General securities
George Booth, a businessman and former minister in Lloyd George's war-time government, acquires the UK operation of JG White. Shortly afterwards, he establishes Municipal and General Securities - the forerunner to M&G.
Europe's first mutual fund
Municipal & General launches Europe's first mutual fund after George Booth was inspired by the concept on a visit to the US. The First British Fixed Trust invests in a fixed portfolio of shares in blue-chip British companies. Ian Fairbairn is recruited to manage the fund and becomes known as 'the father of the unit trust industry'.
First flexible unit trust launched
The first flexible unit trust is launched and allows the manager to change the composition of the portfolio rather than keep to a fixed set of stocks.
Impact of the Second World War
The outbreak of the Second World War effectively puts a stop to new capital issuance. Capital controls remain in place until 1957 and unit trusts cannot operate properly again until the Investments Act of the following year.
M&G Thrift Plan
Launch of the M&G Thrift Plan, the first regular savings plan for a unit trust. Savers can invest in unit trusts from as little as five shillings a week.
Robert Benson Lonsdale’s minority stake
Robert Benson Lonsdale (who will later become Kleinwort Benson) are invited to take a minority stake in M&G in order to provide a fresh injection of capital and preserve the fund manager's independence.
Esmee Fairbairn Charitable Trust established
The Esmee Fairbairn Charitable Trust is established to finance education in investment. It controls a 50.1% holding in M&G to protect the group from unwanted takeover approaches.
M&G Trust Assurance founded
M&G Trust Assurance, the forerunner to M&G Life Assurance, is founded.
M&G Dividend Fund
The M&G Divided Fund is launched to pursue an investment strategy focused on dividend growth and yield.
M&G Recovery Fund
The M&G Recovery Fund, the original special situations fund, is launched. In the same year, the company drops the full Municipal & General name in favour of M&G Securities.
M&G Japan & General Fund
The launch of the M&G Japan & General Fund allows the company to become the first UK asset manager to specialise in this field.
First UK commodity fund launched
The UK’s first commodity fund is launched. The fund will later merge with two other M&G funds to become the M&G Global Basics Fund.
Kleinwort Benson stake is increased
Kleinwort Benson increases its stake in M&G to 37.4%.
Prudential Property Investment Managers
The Prudential Estates department becomes Prudential Property Investment Managers (PRUPIM).
Kleinwort Benson’s shares offered to the general public
The 28 million shares owned by Kleinwort Benson are offered to the general public. The Esmee Fairbairn Trust is left with a stake of 33% and is the only major shareholder. In the same year, M&G becomes the UK's largest unit trust group.
Corporate Bond Fund launched
The UK's first retail Corporate Bond Fund is launched.
A new Chief Executive
Michael McLintock is appointed Chief Executive after the retirement of David Morgan.
High Yield Corporate Bond Fund launched
The UK's first retail High Yield Corporate Bond Fund is launched.
Prudential plc acquires M&G
Prudential acquires M&G for £1.9 billion, approximately 10% of the value of assets under management.
M&G builds presence in Europe
M&G launches its international distribution arm and establishes its first office in mainland Europe to service clients based in Germany, Austria and Luxembourg. Over the next 10 years, M&G expands rapidly across Europe to Italy, Spain, Switzerland, France, The Netherlands and the Nordics.
M&G Property Fund
The M&G Property Fund is launched, offering real estate investments to the general public (now M&G Property Portfolio).
M&G Optimal Income Fund
The M&G Optimal Income Fund is launched; the first fully flexible bond fund.
M&G Secured Property Fund
The M&G Secured Property Income Fund is launched.
M&G UK Companies Financing Fund
The M&G UK Companies Financing Fund is launched.
M&G Inflation Linked Corporate Bond Fund
The M&G Inflation Linked Corporate Bond Fund is launched; the first of its kind.
M&G expands to Asia
M&G opens its first office in Asia, located in Singapore's financial district.
PRUPIM becomes M&G Real Estate
Prudential Property Investment Managers (PRUPIM) re-brands to M&G Real Estate.
M&G Global Floating Rate High Yield Fund
M&G Global Floating Rate High Yield Fund is launched, opening access to investment in leveraged loans to retail investors.
A new Chief Executive
Anne Richards becomes Chief Executive of M&G upon the retirement of Michael McLintock.
M&G Global Listed Infrastructure Fund
The M&G Global Listed Infrastructure Fund is launched, opening access to investment in a broad range of infrastructure to retail investors.
Prudential plc announces the combination of M&G and Prudential UK and Europe to form a new savings and investment business.