Fund and wealth manager M&G has reported £2.1bn in net inflows from new business in the first half - a significant bounce back from the £1.1bn of net outflows seen in the first half last year.

Adjusted operating profit before tax was £378m, a slight improvement on the £375m seen in the previous year.

The total dividend per share increased to 6.7 pence, compared to 6.6 pence in H1 2024.

Assets under management and administration (AUMA) in H1 reached £354.6bn (£346.1bn in H1 2024).

Over the past year the group has merged its life and growing wealth divisions into one unit and has also decided taken an ‘impairment’ in the accounts to cover some of the costs of combining its wealth businesses.

Amortisation and impairment of intangible assets arising on business combinations was £11 million in the half (30 June 2024: £19m).

The company also reported that in the six months ended 30 June 2025, restructuring costs and other costs of £37m (30 June 2024: £29m) included £11 million (30 June 2024: £10 million) related to reductions in costs.

Group CEO Andrea Rossi said he was happy with the results.

He said: "I am pleased with our progress over the first six months of the year. A key highlight is the positive £2.1 billion net flows from open business, a £3.2 billion improvement from the same period last year. This is a strong result underpinned by £2.6 billion net inflows from external clients in Asset Management.

"This growth has been supported by our market leading investment performance and continued international expansion. Today, 58% of our Asset Management third party AUMA comes from international clients, up from 37% five years ago. This cements our position as a leading international active asset manager, with an established footprint in Europe and growing access to attractive Asian markets.”

"In May, we also announced a long-term strategic partnership with Dai-ichi Life, becoming their preferred asset manager for Europe. We expect this collaboration to generate at least $6 billion (£4.5bn) of new business flows over the next five years, and to further support our international growth ambitions.

"In Asset Management, while growing, we also continue to focus on efficiency, as we reduced the cost-to-income ratio from 77% to 75%. We expect this positive trend to continue, as we further improve our operating leverage through cost discipline and top-line growth.

"We are broadening our product offering in Life, with the planned launch of our With-Profits Bulk Purchase Annuity (BPA) early next year. This solution will be a key competitive advantage in the UK retirement market. PruFund continues to deliver strong investment outcomes and, thanks to the smoothing mechanism, protected its clients from the market volatility in April. This performance has generated increased client demand, improved sales, and has led to positive net inflows since June.

"The balanced and diversified nature of our business model, as well as the momentum across our Asset Management and Life businesses, gives me confidence for the future. We continue to build on our strong foundations to deliver long-term growth for our customers, clients and shareholders, which is high-quality and diversified across products, segments, and markets.”