M&G Reports Strong First-Half Earnings Driven by Asset Management Growth
M&G plc reported its strongest first-half operating profit since listing, with adjusted operating profit rising 15% to £435 million in the six months through June 2026. The growth was primarily driven by a 24% increase in asset management profits and strong performance from PruFund, M&G's capital-light with-profits investment product. Open-business net inflows reached £2.4 billion, boosting assets under management (AUM) to £387 billion. Asset management attracted £2.2 billion of those flows, while international demand for private and public market strategies continued to grow. M&G also maintained a robust Solvency II ratio of 247% with a capital surplus of £5 billion. The company emphasized the shift toward higher-margin asset management and with-profits products, which now account for 80% of operating profit—up from 73% in the prior year. CEO Andrea Rossi highlighted improved efficiency metrics within asset management, including a cost-to-income ratio that has fallen to 73%, aligning with M&G's long-term target.
Tickers: $MGPFY
Topics: asset management financial performance operating profit