The Pru’s best policy would be holding on to its M&G treasure

A sale of the asset manager could raise up to £5bn

If UK insurer Prudential ever found itself looking for an extra source of cash, on top of next week’s £15bn rights issue to finance the acquisition of Asian insurer AIA, it might do worse than consider selling its UK asset management business, M&G.

Not that the Pru is looking for extra cash. Moreover, it has never suggested spinning off M&G, and it is not doing so now.

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