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M&G Investments to set up base in Luxembourg post-Brexit

M&G Investment Management Ltd. said it plans to set up a base in Luxembourg after the U.K. leaves the EU.

The base would consist of two entities: a management company that will act both as UCITS manager and alternative investment fund manager, and a distribution firm for the management company's funds and services.

The U.K.-based asset manager also revealed plans to launch a range of Luxembourg SICAV funds by March 2019, which will include funds that will follow the same investment strategies as its U.K. open-ended funds held by European investors.

Both plans are subject to regulatory approval in Luxembourg and the U.K.

M&G said the base, along with the SICAV funds, will ensure the availability of its services to its international and European clients regardless of the outcome of negotiations on financial services between the U.K. and the EU.

M&G is the investment arm of Prudential Plc in the U.K. and Europe.