M&G

M&G plc is an investment manager in the United Kingdom and overseas. M&G invests in and manages a wide range of assets including Equities, Fixed Income and Property. M&G also manages more esoteric assets within the private finance arena such as Structured Products (including CDOs), Leveraged Finance, Project and Infrastructure Finance. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

M&G
Public
Traded asLSE: MNG
IndustryFinancial services
Founded1931 (1931) (demerged 2019)
HeadquartersLondon, England, UK
Key people
  • Mike Evans (chair­person) 
  • John Foley (CEO) 
ProductsFinancial services
Revenue£11,074 million (2019)[1]
£1,745 million (2019)[1]
£1,123 million (2019)[1]
Websitewww.mandg.com

History

Municipal & General Securities Company Limited launched the first ever UK unit trust in 1931, the First British Fixed Trust.[2][3] 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.[4]

M&G introduced its savings or "thrift" plans in 1954.[5]

In March 1999 M&G, which by then was the UK's largest unit trust group, was acquired by Prudential plc.[6]

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.[7]

In July 2016, M&G 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.[8][9][10]

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&G Prudential, which the firm described as a savings and investments business. The business would control some £332 billion in assets with over six million customers.[11] Then in August 2019 it announced that it would de-merge the investment business as "M&G".[12] The demerger was completed in October 2019.[13]

Sponsorship

M&G is the official sponsor of the RHS Chelsea Flower Show.[14]

References
  1. "Preliminary Results 2019" (PDF). M&G. Retrieved 10 March 2020.
  2. Thornhill, Jo (22 April 2001). "Happy Birthday unit trusts". This Is Money. Archived from the original on 19 August 2014. Retrieved 8 March 2017.
  3. "Notes & Comments, The Fixed Trust:". The Glasgow Herald. 23 April 1931. p. 12. Retrieved 8 March 2017.
  4. "Happy Birthday unit trusts". This is Money. 23 April 2001. Retrieved 12 October 2017.
  5. "PEPs bring power to the people". The Independent. 15 October 1995. Retrieved 4 October 2019.
  6. "Pru buys M&G for agreed pounds 1.9bn". The Independent. 12 March 1999. Retrieved 4 October 2019.
  7. "M&G online service to undercut fund supermarkets". FundsandShares.co.uk. Archived from the original on 16 August 2016. Retrieved 9 July 2016.
  8. Sarah Jones (5 July 2016). "U.K. Property Funds Freeze $12 Billion to Halt Brexit Retreat". Bloomberg.com. Retrieved 9 July 2016.
  9. Lazarus, Darren (5 July 2016). "Third U.K. Property Fund Halts Withdrawals Amid Brexit Market Turmoil". WSJ.com. Retrieved 9 July 2016.
  10. "A $6 billion UK property fund stopped people withdrawing money after investors all rushed for the exit". Business Insider. Retrieved 9 July 2016.
  11. "M&G and Prudential arms to merge". Citywire. 10 August 2017. Retrieved 4 October 2019.
  12. "M&G goes 'full circle' as it reveals branding ahead of demerger". Portfolio Adviser. 14 August 2019. Retrieved 4 October 2019.
  13. "Prudential Completes Demerger Of M&G, Shares Begin Trading In London". Morning Star. 21 October 2019. Retrieved 22 October 2019.
  14. "The M&G Garden - The Retreat". BBC. Retrieved 4 October 2019.
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