M&G eyes European distribution partners to boost PruFund - reports

M&G is looking to partner with European companies to widen the distribution of its £58bn PruFund outside of the UK.

According to reports in The Sunday Times, the company is seeking partnerships in Europe, particularly France and Germany, where M&G would aim to use the PruFund model to sell other products under different names.

M&G launches full PruFund range on Wealth platform

Andrea Rossi, M&G CEO, said in the company's 2022 results it will expand into Italy and Ireland through the Future brand name via ventures with Intesa Sanpaolo's insurance arm in Italy and New Ireland Assurance in Ireland - which, had the time, has attracted around £150m.

The partnerships report followed speculation in March, when it was reported Australian baking firm Macquarie Group was considering a multi-billion pound bid for the FTSE 100 asset manager.

International Investment's sister brand Investment Week said M&G has been contacted for comment.