10 Apr 2013
PRUPIM to be renamed M&G Real Estate
M&G Investments, one of Europe’s leading investment managers, today announces that its property business, PRUPIM, will be renamed M&G Real Estate. The change of name is effective from the end of June.
Alex Jeffrey, Chief Executive of PRUPIM, says the name change reflects the increasing collaboration with other parts of the M&G group to offer clients investment strategies with a real estate component.
Mr Jeffrey comments: “This is a logical step. Products for external clients are already marketed under the M&G brand. The change of name reflects how closely we work with our colleagues across the group.”
He adds: “M&G is a leading active investment manager with a record of producing strong long-term returns for its clients. Over the past few years, PRUPIM has reshaped its business in line with M&G’s values so it is now appropriate to take on the M&G Real Estate name.
“As a specialist in real estate, we take an active approach to the ownership and management of property. This approach has enabled us to build a considerable third-party client business over the past few years. Today, we manage about £5 billion of assets on behalf of external investors across a range of investment strategies and geographies. Such business now represents nearly a third of our total assets under management.”
PRUPIM is a top 20 international real estate investment manager with £17 billion of assets under management. It invests in property on behalf of Prudential and external clients across Europe, the Asia Pacific region and North America.
Notes to Editors
PRUPIM is the real estate investment management arm of M&G and a top 20 international real estate investment manager with over £17 billion* invested in a broad spread of properties across Europe, the Asia Pacific Region and North America. M&G is the investment arm of Prudential Plc in the UK and Europe. For more information, visit www.prupim.com. *As at 31 December 2012.
M&G is an international active asset manager, investing on behalf of individuals and institutions for over 80 years. At 31 December 2012 the firm manages over £228 billion of assets through a wide range of investment strategies across equities, bonds, property and multi asset.
Headquartered in London, M&G employs over 1,500 people worldwide operating from offices across Europe and Asia.
M&G’s history is a story of investment firsts, from the UK’s first mutual fund in 1931 to the Inflation Linked Corporate Bond Fund in 2010.
For further information, please contact:
Corporate Communications, M&G Investments
Phone: 020 7548 3669
M&G Investment Management Limited is registered in England and Wales under number 936683 with its registered office at Laurence Pountney Hill, London EC4R OHH. M&G Investment Management Limited is authorised and regulated by the Financial Services Authority. Past performance is not a guide to future performance.