26 years ago PRU paid 10% of FUM for M&G. It was nine months before the Market high, reached on the cusp of the Millenium. Today the market has moved, and fund managers are no longer the stars of the City.
M&G company reportedly manage £350bn in total.
In June 25, a Japanese firm, paid a price of just 1.5% of the FUM to buy a share in M&G. In the same month, IFA firm Frenkel Topping sold on 2nd June 2025 for 4.5% of FUM.
So that IFA has been valued at almost exactly 3x the value of the most famous fund manager. M&G have the longest history in mutual funds, having pioneered the unit trust movement a century ago, and now it is worth just ONE THIRD of the IFA market when measured by price against FUM.
The value in retail financial services lies with the IFAs who are controlling the flows of advised funds.
IFAs have the whip hand. IFAs control the flow of funds. Non advised funds are under attack from automation and the ETF index tracking world. The Fund management industry as a stand alone business model barely works.
For IFAs, automation means less admin and more advising! Let BAT AI add value by automating your file checking.