Pru sees investor market fears

Prudential said more of its fund management customers were switching away from equity-based products because of their fear of a stock market correction. It said the proportion of retail money going into its M&G share-focused funds tumbled from 69 per cent in the last three months of 2010 to 46 per cent in the latest quarter.
By The Newsroom
Published 12th May 2011, 10:10 BST

Instead, M&G’s Optimal Income Fund, a fixed income fund, was the best seller, pulling in £700m since the start of the year. Prudential said the shift “marked a change in the risk appetite of investors”. The amount of new money heading into M&G also dropped sharply to £1.3bn from £2.3bn.