The new Belgium-based wholesale activities will be managed by the firm’s France and Belgium director, Brice Anger, who said it is an “opportune time” for the firm to “strengthen [its] presence and develop new and existing relationships with third-party distribution partners”.
Newly appointed sales manager for Belgium and Luxumbourg, Kelly Hebert, will also join the team.
The firm will focus its offering on five funds which have proven popular across Europe. These include its Optimal Income Fund, Global Macro Bond Fund, Global Dividend Fund, Dynamic Allocation Fund, and its Income Allocation Fund.
The London-headquartered firm has been operating under the private placement regime in Belgium since 2009, where the majority of its clients have been global and domestic banks, asset managers and fund of fund managers.
M&G said that while it plans to continue developing these relationships, the company will now also target private and retail banks, IFAs and fund platforms, aiming to reach its €2bn target in Belgium and Luxumbourg over the next three years.
Will Nott, chief executive of M&G Securities, said: “M&G has always gone where its clients are, and our clients have asked us to be in Belgium.
“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.”
A total of 34 of M&G’s mutual funds across fixed income, equities and multi-asset have been registered in the region.
