M&G reported net inflows of £2.1bn in the first half of 2025, a huge £3.2bn turnaround from the same period last year, when it recorded net outflows of £1.1bn.
Assets under management and administration (AUMA) rose to £354.6bn in H1 2025, with 58% of AUMA now coming from international clients – up from 37% five years ago. However, adjusted operating profit before tax came in at around £378m, slightly higher than the £375m recorded in H1 2024, but falling short of the £398m that had been expected.
Profit after tax was £248m – another big turnaround from the £56m loss M&G recorded for the first half of last year, while asset management revenue rose to £514m, up from £499m.
Group chief executive Andrea Rossi said the results were “strong”, with the business’s growth this year supported by its continued international expansion and “market-leading” investment performance.
She said: “Today, 58% of our asset management third party AUMA comes from international clients, up from 37% five years ago. This cements our position as a leading international active asset manager, with an established footprint in Europe and growing access to attractive Asian markets.
“In asset management, while growing, we also continue to focus on efficiency, as we reduced the cost-to-income ratio from 77% to 75%. We expect this positive trend to continue, as we further improve our operating leverage through cost discipline and top-line growth.”
