View source for M&G

{{Short description|British fund management company}}
{{Use dmy dates|date=October 2016}}
{{Infobox company
| name = M&G plc
| logo = File:M&G_plc_Logo.png
| former_name = {{Ubl
| M&G Prudential Limited (2018{{endash}}2019)
| M&G Prudential plc (July{{endash}}September 2019)<ref name="CompaniesHouse">{{Cite web |date=2018-07-02 |title=M&G PLC overview |url=https://find-and-update.company-information.service.gov.uk/company/11444019 |access-date=2024-01-23 |website=[[Companies House]] |language=en}}</ref><ref>{{Cite web |title=Home |url=http://www.mandg.com/ |access-date=2024-01-23 |website=M&G |language=en}}</ref>
}}
| type = [[Public limited company|Public]]
| traded_as = {{London Stock Exchange|MNG}}<br/>[[FTSE 100 Index|FTSE 100]] component
| founded = {{start date and age|1931}} (demerged 2019)
| key_people = Andrea Rossi (CEO)
| ISIN = {{ISIN|sl=n|pl=y|GB00BKFB1C65}}
| industry = [[Financial services]]
| brands = [[M&G Investments]]<br>[[M&G Real Estate]]<br>[[M&G Recovery Fund]]
| location = [[London]], England, UK
| revenue = {{increase}} [[Pound sterling|£]]4,095 million (2024)<ref name=results>{{cite web|url=https://www.mandg.com/~/media/Files/M/MandG-Plc/documents/Financial%20results/2025/mgplc-annual-report-and-accounts-2024.pdf|title=Annual Results 2024|publisher=M&G|access-date=19 March 2025}}</ref>
| operating_income = {{decrease}} [[Pound sterling|£]]145 million (2024)<ref name=results/>
| net_income = {{decrease}} [[Pound sterling|£]](347) million (2024)<ref name=results/>
| aum = {{increase}} [[Pound sterling|£]]345.9 billion (2024)<ref name=results/>
| num_employees =8,454 (2024)<ref name=results/>
| homepage = {{url|https://mandgplc.com}}
}}

'''M&G plc''' is a global [[investment manager]] headquartered in the [[City of London]]. Since its de-merger from [[Prudential plc]], it has been listed on the [[London Stock Exchange]] and is a constituent of the [[FTSE 100 Index]].

==History==

=== Pre-2000 ===
Municipal & General Securities Company Limited launched the First British Fixed Trust in 1931.<ref>{{cite web|title=Notes & Comments, The Fixed Trust|url=https://news.google.com/newspapers?nid=2507&dat=19310423&id=cadAAAAAIBAJ&sjid=jqUMAAAAIBAJ&pg=1648,8004709|publisher=[[The Glasgow Herald]]|access-date=8 March 2017|page=12|date=23 April 1931}}</ref> It held the shares of 24 
companies in a fixed portfolio that was not changed for the fixed lifespan of 20 years. The trust was relaunched as the M&G General Trust and later renamed as the Blue Chip Fund.<ref>{{cite web|url=https://www.investmentweek.co.uk/investment-week/news/1370131/-merge-blue-chip-away|title=M&G to merge Blue Chip away|publisher=Investment Week|date=1 May 2006}}</ref>

M&G Investments introduced its savings or "thrift" plans in 1954.<ref>{{cite web|url=https://www.independent.co.uk/news/business/peps-bring-power-to-the-people-1577726.html|title=PEPs bring power to the people|date=15 October 1995|work=The Independent|access-date=4 October 2019}}</ref>

In March 1999 M&G Investments, which by then was the UK's largest unit trust group, was acquired by [[Prudential plc]].<ref>{{cite web|url=https://www.independent.co.uk/news/business/pru-buys-mg-for-agreed-pounds-19bn-1080014.html|title=Pru buys M&G for agreed pounds 1.9bn|work=The Independent|date=12 March 1999|access-date=4 October 2019}}</ref>

=== 2000–2020 ===
In May 2016, it announced it was to launch a direct online investment service for retail investors to invest directly in its range of funds.<ref>{{cite web |url=http://www.fundsandshares.co.uk/funds/mg-online-service-undercut-fund-supermarkets/ |title=M&G online service to undercut fund supermarkets |website=FundsandShares.co.uk |access-date=9 July 2016 |url-status=dead |archive-url=https://web.archive.org/web/20160816171525/http://www.fundsandshares.co.uk/funds/mg-online-service-undercut-fund-supermarkets/ |archive-date=16 August 2016 |df=dmy-all }}</ref>

In July 2016, M&G Investments suspended redemptions on its £4.4 billion Property Portfolio fund following heavy withdrawals after the referendum on the UK's exit from the European Union.<ref>{{cite web|author=Sarah Jones |url=https://www.bloomberg.com/news/articles/2016-07-05/m-g-investments-suspends-trading-in-property-portfolio-fund |title=U.K. Property Funds Freeze $12 Billion to Halt Brexit Retreat |website=Bloomberg.com |date=5 July 2016 |access-date=9 July 2016}}</ref><ref>{{cite web|last=Lazarus |first=Darren |url=https://www.wsj.com/articles/u-k-property-shares-drop-on-uncertainty-following-eu-referendum-vote-1467715870 |title=Third U.K. Property Fund Halts Withdrawals Amid Brexit Market Turmoil |website=WSJ.com |date=5 July 2016 |access-date=9 July 2016}}</ref><ref>{{cite web|url=https://www.businessinsider.com/mg-investments-suspends-withdrawals-from-its-46-billion-uk-property-fund-2016-7?r=UK&IR=T |title=A $6 billion UK property fund stopped people withdrawing money after investors all rushed for the exit |date=6 July 2016 |publisher=Business Insider |access-date=9 July 2016}}</ref>

In August 2017, [[Prudential plc]] (the parent company of M&G Investments) announced it would merge M&G Investments with its Prudential UK and Europe businesses to form a new division. The division would be called M&GPrudential, which the firm described as a savings and investments business.<ref>{{cite web|url=http://citywire.co.uk/wealth-manager/news/mandg-and-prudential-investment-arms-to-merge/a1041048|title=M&G and Prudential arms to merge|publisher=Citywire|date=10 August 2017|access-date=4 October 2019}}</ref> Then in August 2019 it announced that it would de-merge the investment business as "M&G plc".<ref>{{cite web|url=https://portfolio-adviser.com/mg-goes-full-circle-as-it-reveals-branding-ahead-of-demerger/|title=M&G goes 'full circle' as it reveals branding ahead of demerger|date=14 August 2019|publisher=Portfolio Adviser|access-date=4 October 2019}}</ref> The de-merger was completed in October 2019.<ref>{{cite web|url=https://www.morningstar.co.uk/uk/news/AN_1571646828825940900/prudential-completes-demerger-of-mg-shares-begin-trading-in-london.aspx|title=Prudential Completes Demerger Of M&G, Shares Begin Trading In London|date=21 October 2019|publisher=Morning Star|access-date=22 October 2019}}</ref>

In December 2019, M&G was forced to gate a £2.5 billion property fund after liquidity was challenged. The company said it was due to [[Brexit]] and Election uncertainty.<ref>{{Cite web|last=Lowe2020-02-25T18:22:00+00:00|first=Richard|title=M&G keeps UK property fund suspended|url=https://realassets.ipe.com/news/mandg-keeps-uk-property-fund-suspended/10043956.article|access-date=2020-07-03|website=Real Assets|language=en}}</ref>

=== 2020–2021 ===
In 2020, it announced its intention to acquire Ascentric, a digital [[wealth management]] platform, from its competitor [[Royal London Asset Management|Royal London]].<ref>{{Cite news|title=M&G acquires Royal London's £14bn Ascentric platform|language=en|work=Wealth Manager|url=https://citywire.co.uk/wealth-manager/news/mandg-acquires-royal-londons-14bn-ascentric-platform/a1361128|access-date=2020-07-03}}</ref> In August 2021, M&G acquired Sandringham Financial Partners. Sandringham will be part of M&G Wealth. The acquisition will bring more than £2.5 billion of assets under advice to M&G plc.<ref>{{Cite news|title=M&G plc to acquire Sandringham Financial Partners|language=en|url=https://www.investegate.co.uk/m--38-g-plc--mng-/rns/m-g-plc-to-acquire-sandringham-financial-partners/202108180857430230J|access-date=2021-08-24}}</ref>

==Current operations==
The company operates two fully owned subsidiaries: [[M&G Real Estate]], providing global real estate investment services, and Infracapital, a specialised infrastructure investment firm.<ref>{{Cite web|title=Infracapital :: Home|url=https://www.infracapital.co.uk/home/|access-date=2020-07-03|website=www.infracapital.co.uk}}</ref>

==Sponsorship==
M&G was the official sponsor of the RHS [[Chelsea Flower Show]] until 2022.<ref>{{cite web|url=https://www.bbc.co.uk/programmes/articles/1yCf5YVTLFZc4dTQGGZqmDR/the-m-g-garden-the-retreat|title=The M&G Garden – The Retreat|website=BBC|access-date=4 October 2019}}</ref>

==Notable current and former employees==
The group [[chief executive]] John Foley<ref>{{cite web |title=MNG.UK Company Profile & Executives - M&G PLC - Wall Street Journal |url=https://www.wsj.com/market-data/quotes/UK/XLON/MNG/company-people/executive-profile/82588484 |website=www.wsj.com |access-date=22 May 2022}}</ref> joined former M&G [[Holding company#Parent company|parent]] Prudential in 2000<ref name="ftimes27apr22">{{cite web |last1=Harriet Agnew, Adrienne Klasa |title=M&G chief executive John Foley to retire |url=https://www.ft.com/content/37a2b66e-9693-4fb1-a224-efa704bf8972 |archive-url=https://ghostarchive.org/archive/zz3hn |archive-date=11 December 2022 |url-access=subscription |url-status=live |website=[[Financial Times]] |access-date=22 May 2022 |date=27 April 2022}}</ref> as deputy group [[treasurer]],<ref>{{cite web |last1=Tom Budszus |title=TOP NEWS: M&G Chief Executive Officer John Foley to resign |url=https://www.morningstar.co.uk/uk/news/AN_1651051051155079200/top-news-mg-chief-executive-officer-john-foley-to-resign.aspx |website=Morningstar UK |publisher=Alliance News Limited |access-date=22 May 2022 |date=27 April 2022}}</ref> subsequently leading the combination of M&G Investments with [[Prudential plc|Prudential]]’s UK insurance business.<ref name="ftimes27apr22"/> In 2015, Foley became chief executive.<ref>{{cite web |last1=Patrick Hosking |title=M&G chief John Foley retires amid flurry of boardroom changes |url=https://www.thetimes.com/business-money/markets/article/m-g-chief-john-foley-retires-amid-flurry-of-board-changes-f6bsll0sw |publisher=[[The Sunday Times]] |access-date=22 May 2022 |language=en |date=27 April 2022}}</ref> In 2017, he executed the [[Mergers and acquisitions|merger of the company]] with M&G Investments and Prudential UK and managed the enlarged M&G through the demerger from Prudential plc in 2019, after the decision was made to shift the focus on Asia and Africa.<ref name="ftimes27apr22" /><ref name="FTA27apr22">{{cite web |last1=Sally Hickey |title=M&G CEO John Foley to retire after 22 years |url=https://www.ftadviser.com/companies/2022/04/27/m-g-ceo-john-foley-to-retire-after-22-years/ |publisher=[[Financial Times|FT Adviser]] |access-date=22 May 2022 |date=27 April 2022}}</ref> In April 2022, M&G announced Foley's retirement after 22 years to leave once his successor has been found.<ref name="FTA27apr22"/>

In September 2022, the company announced the appointment Andrea Rossi as its new CEO, starting on 10 October on a salary of £875,000 and a bonus package.<ref>{{Cite web |date=2022-09-29 |title=M&G names Andrea Rossi as next chief executive |url=https://www.investmentweek.co.uk/news/4057175/names-andrea-rossi-chief-executive |access-date=2022-09-29 |website=Investment Week |language=en}}</ref> Upon appointment, Rossi said that he would not pursue a break-up of the business.<ref>{{Cite news |last=Hotten |first=Russell |title=Andrea Rossi, former Axa boss appointed to head M&G, rules out break-up of firm |language=en |url=https://www.thetimes.com/business-money/markets/article/andrea-rossi-former-axa-boss-appointed-to-head-m-g-rules-out-break-up-of-firm-m26fgw3t6 |access-date=2022-09-29 |issn=0140-0460}}</ref>

=== Business ===

* [[Anne Richards]] – CEO of Fidelity International (2017– )<ref>{{Cite news | url=https://www.bloomberg.com/news/articles/2018-07-27/richards-quits-as-m-g-investments-ceo-before-prudential-demerger | title=Anne Richards Quits M&G to Head $414 Billion Money Manager | newspaper=Bloomberg.com | date=27 July 2018 }}</ref>
* [[Richard Woolnough]] – Fund Manager at M&G Investments; highest paid fund manager in 2014<ref>{{cite news|url=https://www.theguardian.com/business/2014/apr/03/prudential-mystery-fund-manager-paid-17m-revealed |title=Prudential's mystery fund manager paid £17.5m revealed|first=Rupert|last= Neate|newspaper=[[The Guardian]]|date=3 April 2014|access-date= 2 April 2014}}</ref>

=== Sports ===

* [[Ian Fairbairn (rower)|Ian Fairbairn]] – Rower; Summer Olympics (1924)<ref>{{Cite newspaper The Times |title=Mr. Ian Fairbairn|department=Obituaries|date=10 December 1968|page=10|issue=57430|column=F}}</ref>

==References==
{{Reflist}}

{{Major asset management companies}}
{{FTSE 100 Index constituents}}
{{Authority control}}

{{DEFAULTSORT:MandG Investments}}
[[Category:Financial services companies established in 1931]]
[[Category:Investment management companies of the United Kingdom]]
[[Category:Prudential plc]]
[[Category:1931 establishments in England]]
[[Category:Investment management companies]]
[[Category:Companies in the FTSE 100 Index]]
[[Category:Asset management companies]]