M&G Shares Choppy Despite Upbeat Q1 Trading Update

Shares in M&G are slightly choppy on Thursday, fluctuating between the flatline after the FTSE 100 asset manager and life insurer published its first-quarter trading update for 2026, showing improved net inflows against a backdrop of global market volatility.

The company reported net inflows from its open business of £0.6 billion for the three months to 31 March 2026, a marked turnaround from net outflows of £0.1 billion in the same period a year earlier.

Group assets under management and administration (AUMA) came in at £371 billion, down modestly from £376 billion at the end of 2025, reflecting adverse market movements over the quarter.

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M&G’s Asset Management division led the way, generating net inflows of £0.7 billion, driven primarily by strong wholesale performance, which saw net inflows of £0.8 billion. Institutional flows were more subdued, recording modest net outflows of £0.1 billion.

Asset Management AUMA stood at approximately £344 billion, broadly flat quarter-on-quarter but around 10% higher than in Q1 2025.

In the Life division, AUMA fell 2% to £188 billion, weighed down by market headwinds and expected outflows from legacy business. PruFund recorded small net outflows of £0.1 billion, though the company said flows had already stabilised in April.

M&G also completed its first With-Profits Bulk Purchase Annuity transaction, worth £0.3 billion, marking a significant product milestone.

Chief Executive Andrea Rossi said the group had made “a strong start to 2026” and expressed confidence in delivering continued growth, citing a solid new business pipeline and the upcoming launch of PruFund on third-party adviser platforms.