InvestmentsMay 22 2023

M&G Wealth adds full PruFund range to platform

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M&G Wealth adds full PruFund range to platform
M&G Wealth boss David Montgomery said today's launch gives advisers greater flexibility and wider choice when it comes to client investments

M&G Wealth has today (22 May) launched the full PruFund range of funds on its wealth platform.

In a market first, five risk-managed PruFunds, along with PruFund Growth and PruFund Cautious are now available as investment choices through M&G’s Isa, Jisa and Sipp tax wrappers. 

The PruFund range, which currently has over £58bn invested in it by more than 450,000 customers, is a collection of advised-only smoothed multi-asset funds. 

According to M&G it is one of the largest multi-asset propositions in Europe. 

M&G has described it as aiming to “achieve a total return from income and capital over the medium to long-term (at least five years), while protecting investors from some of the short-term ups and downs of direct stock market investments by using a smoothing process".

M&G’s managing director David Montgomery added that today’s launch is an important step towards M&G Wealth’s “ambition to become a leading provider of innovative wealth solutions”.

“The launch of the full PruFund range on the M&G Wealth platform gives advisers greater flexibility and wider choice when determining the best way for their clients to invest. 

“PruFund is a unique proposition with a great track record of delivering excellent value, particularly for clients who are seeking to dampen volatility and minimise portfolio sequencing risk,” Montgomery said. 

The PruFund Planet range of funds launched on the platform in July 2022.

The M&G Wealth platform has £15.6bn assets under administration currently, servicing 2,000 advice firms and over 100,000 private investors.

M&G demerged from Prudential in 2019, restoring the oldest UK fund management business to independent status.

Speaking to FTAdviser back in December, Montgomery discussed the acquisitions he has overseen since joining the firm and outlined his strategy to make M&G Wealth an all-round player in the financial advice sector.

At the time he said: "In this industry, when you're trying to acquire firms to flip and sell on to make money, I'm not sure that's the best thing for the advice business or the customer. 

"Big institutions who are in it for the long term and are focused on customer outcomes, which we are, are a better long-term owner."