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Distribution agreement with the Irish Insurance Company of Italy’s largest Banking Group, Intesa Sanpaolo Life
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The new range of multi-asset smoothed funds will be known in Europe as Future, aiming to offer low volatility and competitive market returns
M&G plc today announces that it has signed an exclusive two-year distribution agreement with Intesa Sanpaolo Life, the Irish insurance company of Italy’s largest banking Group Intesa Sanpaolo, to make its PruFund-style proposition available to investors outside the UK.
Future is a new family of global multi-asset funds delivering ‘smoothed’ outcomes, which is designed to replicate the success of M&G plc’s flagship PruFund range outside the UK. Future will use the same investment team and capabilities underpinning the firm’s £143 billion With-Profits fund.
Designed to meet our European distribution partners’ changing needs and provide their end-customers with an attractive step into investing, the Future range offers investors access to a well-established, vast pool of diversified public and private assets through its exposure to the Prudential With-Profits global asset pool.
M&G has a 20-year plus track record investing in private and alternative assets and Future will utilise this capability by also investing in assets including Private Equity, Real Estate and Infrastructure.
An innovative proposition, M&G’s new family of funds uses a carefully designed and built-in mechanism which aims to reduce short-term volatility, known as smoothing1.
Clare Bousfield, Managing Director Retail & Savings, M&G plc says: “Making our Future range available in Europe marks an important milestone for our business. It addresses two of M&G’s key strategic priorities, growing our business outside the UK and further strengthening our partnership with leading European players such as Intesa Sanpaolo in Italy.
“The With-Profits fund has been helping UK savers manage and grow their savings for decades and we are excited to be able to now offer these market-leading investment capabilities to European-based customers.”