 | |
| Formerly | |
|---|---|
| Company type | Public |
| LSE: MNG FTSE 100 component | |
| ISIN | GB00BKFB1C65 |
| Industry | Financial services |
| Founded | 1931; 94 years ago (1931) (demerged 2019) |
| Headquarters | London, England, UK |
Key people |
|
| Brands | M&G Investments M&G Real Estate M&G Recovery Fund |
| Revenue |  £4,095 million (2024)[4] |
 £145 million (2024)[4] | |
| £(347) million (2024)[4] | |
| AUM | £345.9 billion (2024)[4] |
Number of employees | 8,454 (2024)[4] |
| Website | mandgplc |
M&G plc is a globalinvestment manager headquartered in theCity of London. Since its de-merger fromPrudential plc, it has been listed on theLondon Stock Exchange and is a constituent of theFTSE 100 Index.
Municipal & General Securities Company Limited launched the First British Fixed Trust in 1931.[5] It held the shares of 24 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.[6]
M&G Investments introduced its savings or "thrift" plans in 1954.[7]
In March 1999 M&G Investments, which by then was the UK's largest unit trust group, was acquired byPrudential plc.[8]
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.[9]
In July 2016, M&G Investments 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.[10][11][12]
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&GPrudential, which the firm described as a savings and investments business.[13] Then in August 2019 it announced that it would de-merge the investment business as "M&G plc".[14] The de-merger was completed in October 2019.[15]
In December 2019, M&G was forced to gate a £2.5 billion property fund after liquidity was challenged. The company said it was due toBrexit and Election uncertainty.[16]
In 2020, it announced its intention to acquire Ascentric, a digitalwealth management platform, from its competitorRoyal London.[17] In August 2021, M&G acquired Sandringham Financial Partners. Sandringham will be part of M&G Wealth. The acquisition will bring more than £2.5 billion of assets under advice to M&G plc.[18]
The company operates two fully owned subsidiaries:M&G Real Estate, providing global real estate investment services, and Infracapital, a specialised infrastructure investment firm.[19]
M&G was the official sponsor of the RHSChelsea Flower Show until 2022.[20]
The groupchief executive John Foley[21] joined former M&Gparent Prudential in 2000[22] as deputy grouptreasurer,[23] subsequently leading the combination of M&G Investments withPrudential’s UK insurance business.[22] In 2015, Foley became chief executive.[24] In 2017, he executed themerger of the company with M&G Investments and Prudential UK and managed the enlarged M&G through the demerger from Prudential plc in 2019, after the decision was made to shift the focus on Asia and Africa.[22][25] In April 2022, M&G announced Foley's retirement after 22 years to leave once his successor has been found.[25]
In September 2022, the company announced the appointment Andrea Rossi as its new CEO, starting on 10 October on a salary of £875,000 and a bonus package.[26] Upon appointment, Rossi said that he would not pursue a break-up of the business.[27]
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