Prudential UK sales up but M&G inflows slide

Overall the group has recorded a solid opening to the year, with total sales up 13% to £729m. The rise is mainly attributed to its Asian business, which was 30% higher at £375m. However, deteriorating market conditions have hit the M&G asset management arm, with inflows down 59% on the same period last year, to £600m. M&G’s total funds under management also fell in Q1, down 5% to £159.8bn. In the UK, individual annuity sales reported a slight dip on Q1 2007, down 3% to £64m. With-profits annuity sales continued to grow strongly, with a 13% increase to £12m. Prudential’s lifetime mortgag...