M&G launches business in Belgium

BelgiumM&G Investments has launched into the Belgian market and plans to raise €2 billon of assets under management in the next three years in Belgium and Luxembourg.

The UK firm is targeting private and retail banks, platforms and independent financial advisers.

M&G has appointed a dedicated sales manager for Belgium and Luxembourg, Kelly Hebert, and registered 34 mutual funds across fixed income, equities and multi-asset in Belgium.

Brice Anger, director, France and Belgium, leads the wholesale push in Belgium.

M&G has been active in the country since 2009, operating under the private placement regime. To date, its clients have been predominantly global and domestic banks, asset managers and fund of fund managers.

Will Nott, chief executive of M&G Securities, says: "Our experience has shown that what works in London does not always work in other European countries. This is why we have set up a dedicated team with strong local knowledge for what is a key market for us."

At September 30, 2014, the firm managed over £257 billion (€336 billion) of assets.

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