Britain's M&G posts first-quarter net inflows on Daiichi Life boost (updated)

Daiichi Life

07/05/2026 07:50

Adds details and background throughout

May 7 (Reuters) - British insurer and money manager M&G MNG.L reported first-quarter net inflows on Thursday, after outflows a year earlier, as demand from its Japanese partner Daiichi Life  8750.T and other external clients drove asset management growth.

The Iran war has weighed on fund managers, as global markets whipsawed and client sentiment was heavily influenced by its developments. Money managers such as Schroders SDR.L and Ashmore  ASHM.L reported heavy client withdrawals stemming from the conflict in April.

M&G said net inflows from its open business, including asset management, PruFund, annuities, and other life products open to new business, reached 600 million pounds ($815.64 million), compared to outflows of 100 million pounds last year.

($1 = 0.7356 pounds)

(Reporting by Yamini Kalia in Bengaluru; Editing by Rashmi Aich)

((Yamini.Kalia@thomsonreuters.com))