M&G to take minority stake in digital wealth manager Moneyfarm By Reuters

© Reuters. FILE PHOTO: The M&G plc logo is seen displayed on a smartphone in front of the same logo displayed in this illustration taken December 1, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – British fund manager M&G said on Wednesday it had taken a minority stake in digital wealth manager Moneyfarm as part of a broader partnership.

M&A will use Moneyfarm’s technology, digital capabilities and investment advice to support its own brand proposition.

Financial details of the deal were not disclosed, but a source with knowledge of the deal told Reuters the funding round valued Moneyfarm at between 300 and 350 million pounds ($473 million).

($1 = 0.7407 pounds)

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