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Business HistoriesM&G
OriginsM&G’s long history of innovation began in 1931 when it launched the first unit trust in Britain, the First British Fixed Trust. The idea was brought to Britain by a stockbroker impressed by the way that American mutual funds had withstood the shock of the 1929 Wall Street Crash. The new fund invested in the shares of 24 leading companies and later became the M&G Blue Chip Fund. In 2006 this fund was merged into the M&G UK Growth Fund. ExpansionSince the launch of the first unit trust, M&G's development has continued to include an impressive array of UK 'firsts', including the M&G Thrift Plan in 1954, the M&G Personal Pension Plan in 1968 and the M&G Japan and General Fund (a pioneer of overseas unit trusts) in 1971.
The M&G GroupIn 2001, Prudential Portfolio Managers (PPM), Prudential's institutional fund management arm, integrated with M&G to create a single investment brand. Prudential Property Investment Managers (PruPIM), part of the M&G Group, is one of the largest institutional property investors in the UK, with growing investment in the international property market. TodayM&G is Prudential's UK and European fund management business with total assets under management of £228 billion (at 31 December 2012). It is also one of Europe's largest active investment managers as well as being a powerhouse in fixed income. Further information can be found on the M&G website. |
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