M&G Investments’ property business, Prupim, is to be renamed M&G Real Estate.
M&G said it was making the change, which come into effect from the end of June, to better reflect the increasing collaboration with other parts of the M&G group to offer investment strategies with a real estate component.
Prupim chief executive Alex Jeffrey said the move was a “logical step” as the firm takes on more third party business. He added: “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.
“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.”
Prupim manages £17bn in assets, the bulk of which is on behalf of parent company Prudential. Around £5bn is managed on behalf of external investors.
Comments