Pru sets out next raft of M&G mergers
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Prudential has unveiled the next wave of funds it wants to merge into M&G funds as part of a move to separate its retail and insurance arms.
Pru’s £184m Distribution fund is being merged into the £13.5m M&G Multi-Asset Income fund, the £576m Pru Income fund is being merged with the £490m M&G Global Dividend fund and the £2.3 billion Pru UK Growth Trust is being merged with the £495m M&G UK Growth fund.
Pru’s £18.3m Japanese Growth trust is being merged with the £35.4m M&G Japan fund while the Pru £96m International Growth Trust is being merged with the £913m M&G Global Growth fund.
In June, Pru merged five funds into their M&G counterparts. In June, the firm said it planned to merge another 17 Pru funds into the M&G range over the next 12 months. The mergers will leave Pru’s product range with five dynamic portfolios and two multi-asset funds.
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