M&G said in its Q1 2026 trading update that net inflows from open business were £0.6bn in the first quarter, up from net outflows of £0.1bn a year earlier, and group assets under management and administration were £371bn as at 31 March versus £376bn at FY 2025 year-end.
Asset Management AUMA was £344bn including £183bn from external clients, broadly unchanged since the start of the year and 10% higher than Q1 2025, with net inflows of £0.7bn driven by Wholesale (+£0.8bn) and momentum across public and private markets of £0.4bn and £0.3bn respectively.
Life AUMA was £188bn, down 2% over the period due to modest adverse market movements and expected net outflows from legacy business, and PruFund posted small net outflows of £0.1bn in Q1 with flows stabilising in April and an expectation of a return to net inflows supported by a planned launch on third-party adviser platforms.
M&G said it launched a With‑Profits Bulk Purchase Annuity solution, completed its first £0.3bn BPA transaction and expects BPA volumes to grow year‑on‑year, weighted towards the second half of 2026.
"We have made a strong start to 2026, with net inflows in Asset Management, driven by demand from Daiichi Life Group and other external clients, and the completion of our first With‑Profits Bulk Purchase Annuity deal in Life," Andrea Rossi, Group Chief Executive Officer, said.
