M&G reports £365 bln in assets, exceeding FY 2025 consensus

Published 05/11/2025, 09:06

Investing.com -- M&G PLC on Wednesday announced in its first-ever third-quarter trading update that its Assets Under Management and Administration (AUMA) reached £365 billion as of September 30, representing a £10 billion (2.8%) increase from the first half of 2025.

The asset manager’s current AUMA level is already £5 billion (1.4%) above the Visible Alpha consensus for the full year 2025, indicating stronger-than-expected performance.

Net flows from M&G’s open business totaled £1.8 billion in the third quarter, which is 71% higher than the run rate implied by first-half results of £2.1 billion (or £1.05 billion per quarter). For the first nine months of 2025, net flows from open business reached £3.9 billion.

Both the Institutional and Wholesale Asset Management franchises achieved net inflows during the third quarter and year-to-date periods. The company noted that its partnership with Dai-Ichi Life is expected to contribute to this positive momentum soon.

The Life book delivered net inflows in PruFund and higher volumes of Bulk Purchase Annuities (BPAs). M&G plans to launch its With-Profits BPA product in the first quarter of 2026, which is expected to further enhance this momentum.

Breaking down the AUMA figures, Asset Management accounted for £335.4 billion of the total. This includes £105.9 billion in Institutional Asset Management, £69.7 billion in Wholesale Asset Management, and £0.7 billion in Other Asset Management.

Within the Life segment, PruFund held £67.7 billion, Traditional With-Profits accounted for £63.7 billion, Shareholder Annuities stood at £15 billion, and Other Life assets totaled £41.4 billion. Corporate Assets made up the remaining £0.8 billion.

Asset Management recorded net flows of £4.1 billion for the first nine months of 2025, with £1.5 billion coming in the third quarter alone. Meanwhile, Life open business saw net flows of -£0.2 billion for the nine-month period, but achieved positive flows of £0.3 billion in the third quarter.

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