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Savings and investments business M&G said it had agreed to acquire a 90% stake in responsAbility Investments, an emerging market impact investing fund.
M&G said it expects to acquire the remaining 10% in due course.
The acquisition, subject to regulatory approval, of reponsAbility 'brings leading capabilities in impact investment to M&G, which will help us accelerate our ambition to place sustainability at the heart of our investment process, and further expands M&G's international operations, particularly with respect to asset sourcing and origination,' the company said.
'There is strong and growing demand for impact and sustainable investment products from our clients.'