M&G reported a record level of net inflows in the third quarter of £6.4bn, bringing total inflows to £11.3bn for the first nine months of the year, a 329% rise from 2011.
Prudential's half-year results show M&G's retail business has taken in £6.1bn year-to-date, while the institutional side has amassed £5.2bn of new money, largely due to one £4.4bn fixed income mandate.
"Asset management has recorded net inflows of £12.3 billion led by M&G," said Tidjane Thiam, group CEO at Prudential.
"This is our best ever performance at the nine month stage surpassing the historically high level of net inflows achieved in 2009."
That was driven by the £11.3bn worth of inflows at M&G, a 329% rise on the £2.6bn in inflows seen in the first nine months of 2011.
Retail and institutional inflows totalled a record £6.4bn in the three months to 30 September, driven by retail investors returning to the market "after a period of extreme risk aversion last year", M&G said.
The group said 11 M&G funds, representing all of the main asset classes, have each attracted net sales of £20 million or more during the three quarters.
While it expects European flows to continue to rise, M&G added that a recent slowdown in UK net retail sales, prompted by its decision to stem inflows into Richard Woolnough's Corporate Bond and Strategic Corporate Bond funds, would likely continue.
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