Highlights

  • Total AUMA reached GBP 365bn in Q3 2025, up from GBP 355bn at mid-year.
  • Asset Management external client inflows totalled GBP 1.5bn in Q3, bringing YTD inflows to GBP 4.1bn.
  • Life business delivered GBP 0.2bn PruFund inflows and GBP 0.3bn BPA transactions, with With-Profits BPA on schedule for Q1 2026 launch.

M&G plc (LSE:MNG) has issued its trading update for the third quarter of 2025, reporting a continued increase in assets under management and administration (AUMA) and net inflows across its open business. The group ended the quarter with AUMA of GBP 365 billion, an increase of GBP 10 billion from the half-year position.

Asset Management Delivers GBP 1.5bn in External Client Inflows

M&G’s Asset Management division reported AUMA of GBP 335 billion, including GBP 176 billion from external clients, representing a 3% rise during the quarter and 6% growth year-to-date.

Net inflows from external clients reached GBP 1.5 billion in Q3, bringing the year-to-date total to GBP 4.1 billion, equivalent to an annualised rate of over 3% of opening external assets. Both the Institutional and Wholesale businesses recorded positive flows, generating GBP 0.8 billion and GBP 0.7 billion respectively in the quarter.

Client demand remained steady across different geographies and asset classes, with particular interest seen in European public equities, private credit, and structured credit. The company also noted early progress in building new business flows through its partnership with Dai-ichi Life, which is expected to contribute further momentum in the coming months.

Life Business Records Improved PruFund and BPA Activity

The Life business achieved AUMA of GBP 188 billion, up 2% over the period and 1.5% year-to-date. M&G’s PruFund, valued at GBP 68 billion, reported net inflows of GBP 0.2 billion in Q3, compared with net outflows of GBP 0.6 billion in the first half of the year. The business continues to focus on broadening product access for clients and advisers.

New business volumes in Bulk Purchase Annuities (BPA) reached GBP 0.3 billion, up from GBP 0.2 billion in the first half. M&G stated that it expects to maintain a good level of BPA volumes in the final quarter of the year and confirmed that its With-Profits BPA offering remains on track for launch in Q1 2026.

Group AUMA Rises to GBP 365bn with Positive Open Business Flows

Across the group, M&G recorded GBP 1.8 billion of net inflows from open business during the third quarter, contributing to GBP 3.9 billion in year-to-date net inflows. Total AUMA rose to GBP 365 billion as of 30 September 2025, compared with GBP 355 billion at the end of the first half of the year.

The company said its focus remains on executing its growth priorities across Asset Management and Life segments, supported by diversified investment capabilities and an expanding client base.