Monday, 22 May 2023 08:15
M&G Wealth adds full PruFund range to platform
M&G Wealth has added the full PruFund range of funds to its M&G Wealth Platform.
M&G Wealth says it is the first time these funds have been offered in full on any investment platform.
The move will mean a wider choice of funds on the platform.
The funds being added are: PruFund Growth, PruFund Cautious and five Risk Managed PruFunds.
The funds will be available as investment choices on the M&G Wealth Platform through ISA, JISA and SIPP tax wrappers.
The PruFund Planet range of funds launched on the platform in July 2022.
PruFund is a range of advised-only smoothed multi-asset funds. It aims to achieve a total return from income and capital over the medium to long-term (at least five years), while protecting investors from some volatility using a smoothing process.
The PruFund range has over £58 billion invested in it by more than 450,000 customers.
The M&G Wealth Platform has £15.6bn in assets under administration. It supports 2,000 advice firms and more than 100,000 private investors.
David Montgomery, managing director of M&G Wealth, said: “Today’s launch is an important step towards M&G Wealth’s ambition to become a leading provider of innovative wealth solutions.”
M&G Wealth is part of M&G plc. It has four main parts, M&G Wealth Advice, M&G Wealth Platform, M&G Wealth Investments and M&G Wealth Distribution.
M&G Wealth launched a hybrid advice business – ‘MAP your future’ – in 2021. At the start of 2022 M&G plc completed the acquisition of wealth manager and Financial Planner Sandringham Partners.
In August 2022 M&G took an initial 49.9% stake in National IFA Continuum Financial Services with the aim of acquiring the business fully by 2024. In January 2023 M&G Wealth announced the launch of ‘&me’, an investment app in partnership with robo adviser Moneyfarm.
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