(Reuters) -British asset manager M&G reported strong net inflows for the third quarter on robust client demand in European public equities, and said it expects to grow in the coming months as it
M&G sees asset boost with Dai-ichi Life partnership
M&G's Growth and Partnership with Dai-ichi Life
(Reuters) -British asset manager M&G reported strong net inflows for the third quarter on robust client demand in European public equities, and said it expects to grow in the coming months as it begins its partnership with Japan's Dai-ichi Life.
Quarterly Performance Overview
M&G on Wednesday reported a quarter-on-quarter increase in assets under management to 365 billion pounds ($489.87 billion) from 355 billion pounds.
Impact of Dai-ichi Life Stake
The company has been turning around its business across its asset management and life insurance services and in May signed a deal with Dai-ichi Life, which saw the Japanese insurer take a 15% stake.
Future Growth Expectations
It posted net inflows of 1.8 billion pounds, after a record 2.6 billion pounds in the first half of the year.
($1 = 0.7451 pounds)
(Reporting by Ankita Bora in Bengaluru; Editing by Nivedita Bhattacharjee and Subhranshu Sahu)
