M&G's assets decline by over £500m in first quarter

Assets at M&G, the European fund arm of UK insurer Prudential, declined by £530m (€792m) to £23.6bn in the three months to the end of March despite a general recovery in the markets.

M&G saw £1.6bn pulled from its funds in the first quarter, with the loss of a single institutional fixed-income client accounting for much of the drop.

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