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M&G sues Royal London over Ascentric acquisition

Fund group claims in a High Court lawsuit that mutual insurer failed to properly disclose ‘inappropriately risky investments’ on the digital adviser platform

By Kristen McGachey
The lawsuit has been filed at the High Court in London
The lawsuit has been filed at the High Court in London Photo: Corbis via Getty Images

Fund group M&G is suing Royal London for £27m in damages in connection with its purchase of digital adviser platform Ascentric.

M&G bought Ascentric from Royal London for £86m in 2020 as it looked to bulk up its wealth management business and gain a toehold in the booming sector.

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