British wealth manger M&G Investments has reported IFRS operating profit of £446m for the year 2014, an increase of 13% compared with £395m a year ago.
The company’s total funds under management rose 8% to £264bn from £244bn at the end of 2013, while external funds under management increased 9% to £137bn from £126bn a year ago.
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M&G Investments, the asset management business of British insurer Prudential, saw a net outflow of £1.7bn from its UK retail business in 2014, versus outflow of £0.7bn in 2013.
For the year ended 31 December 2014, the net inflow was 9% lower than the £7.3bn reported by M&G’s retail business a year earlier.
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