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Fund manager M&G, which was recently spun out of insurer Prudential, posted a fall in adjusted annual profit after it experienced net outflows from its funds.
Pre-tax profit for the year through December rose 31% to £1.07bn, up from £811m on-year.
However, pre-tax adjusted operating profit, which stripped out one-off gains and losses, fell 29% to £1.15bn, which the company said was in line with its expectations.
M&G declared an ordinary dividend of 11.92p per share and special demerger dividend of 3.85p.
Chief executive John Foley said the company had posted a 'resilient performance' in a challenging market.
'Total assets under management and administration increased to £352bn, largely reflecting investment returns over the year,' Foley said.
'Across savings and asset Management, we saw modest total net client outflows of £1.3bn.'
'Flows into our UK retail savings business, including PruFund, largely offset flows out of our retail asset management business.'
'This demonstrates the value of our diversified business model and the appeal of our smoothed investment propositions.'
Foley said global markets continued to be unnerved by a series of factors, including the spread of COVID-19 and its potential economic impact.
'While there remains significant uncertainty, our balance sheet continues to be resilient,' he said.