M&G on Wednesday reported a significant turnaround in client money, attracting net inflows of 2.1 billion British Pounds in the first half of the year, driven by strong demand from international clients.
This reverses a 1.1 billion British Pound net outflow from the same period a year earlier, the company said.
The London-based savings and investment firm also reported a profit after tax of 248 million British Pounds, swinging from a 56 million British Pound loss in the first half of 2024.
Adjusted operating profit was broadly flat at 378 million British Pounds.
The company's asset management division was the main driver, attracting 2.6 billion British Pounds in net inflows from external clients, with international institutional clients contributing 3.2 billion British Pounds.
"A key highlight is the positive £2.1 billion net flows from open business, a £3.2 billion improvement from the same period last year," Chief Executive Officer Andrea Rossi said in a statement.
"This is a strong result underpinned by £2.6 billion net inflows from external clients in Asset Management."
M&G said that international clients now account for 58% of its third-party assets under management, up from 37% five years ago.
Total assets under management and administration rose to 354.6 billion British Pounds from 345.9 billion British Pounds at the end of 2024.
The company declared an interim dividend of 6.7 pence per share, up from 6.6 pence a year earlier.
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M&G on Wednesday reported continued momentum in its third quarter, attracting 1.5 billion British Pounds in net inflows from external clients into its asset management division.