Published On: March 15th, 2021Categories: Trade Ideas
The UK’s leading savings and investment company M&G Plc has recently released decent results, showing a resilient performance in 2020 despite the pandemic. While a challenging global economic backdrop will continue to weigh on the industry, key to increasing profit is to develop new fee earning businesses. PruFund has been a key source of growth for the group and, as the old Prufund runs off, the company needs to develop alternative revenues.
While headwinds remain for the company, we recommend buying the GBP denominated Tier 2 bonds callable in July 24, October 2031 and July 2035.
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