# M&G Investments (USA) Inc.

> M&G Investments (USA) Inc. is an SEC-registered investment advisory firm in Chicago, IL, registered since 2020, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 28, 2026.

- CRD: 305254
- Filed as: M&G INVESTMENTS (USA) INC.
- Also doing business as: M&G INVESTMENTS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: August 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/305254
- AdvisorCensus page: https://advisorcensus.com/firm/m-and-g-investments-usa-inc-chicago-il-305254

## Quick answers

**How is M&G Investments (USA) Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), M&G Investments (USA) Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is M&G Investments (USA) Inc. located?**
M&G Investments (USA) Inc.'s principal office is in Chicago, IL, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is M&G Investments (USA) Inc. registered with the SEC or a state?**
M&G Investments (USA) Inc. is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 305254.

**How much does M&G Investments (USA) Inc. manage?**
M&G Investments (USA) Inc. reports $14,324,247,494 in regulatory assets under management in its Form ADV filing dated August 28, 2026 (100% discretionary).

**How have M&G Investments (USA) Inc.'s assets and staff changed since 2021?**
In the Form ADV data for M&G Investments (USA) Inc.: Regulatory assets under management: $925,503,646 in the October 2021 data and $14,324,247,494 in the October 2026 data, up 1448%. Total employees: 17 in October 2021 and 47 in October 2026. Assets under management move with markets as well as with clients coming and going.

**Which custodians does M&G Investments (USA) Inc. use?**
M&G Investments (USA) Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists HSBC Bank PLC, State Street and State Street (lux) as custodians holding 10% or more of its separately managed account assets.

**Does M&G Investments (USA) Inc. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/305254

**What changed in M&G Investments (USA) Inc.'s recent Form ADV filings?**
In the September 2026 filing data: Changed its office addresses in New York, NY. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- HSBC Bank PLC
- State Street
- State Street (lux)

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $14,324,247,494
- Discretionary: $14,324,247,494
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | Not reported | $0 |
| Insurance companies | Fewer than 5 | $14,324,247,494 |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2020 (6 years)
- Employees: 47 total, 21 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, IL, NY
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/305254

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Los Angeles, CA
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- mandg.com/investments/institutional/en-us-onshore

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $925,503,646 | 17 | March 19, 2021 |
| October 2022 | $16,387,253,401 | 22 | March 30, 2022 |
| October 2023 | $11,906,893,373 | 30 | August 7, 2023 |
| October 2024 | $14,812,515,750 | 25 | June 28, 2024 |
| October 2025 | $15,577,555,715 | 48 | June 3, 2025 |
| October 2026 | $14,324,247,494 | 47 | August 28, 2026 |

Regulatory assets under management: $925,503,646 in the October 2021 data and $14,324,247,494 in the October 2026 data, up 1448%.
Total employees: 17 in October 2021 and 47 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Changed its office addresses in New York, NY.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 22 to 21.
- Added an office in Los Angeles, CA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. M&G Investments (USA) Inc. (CRD 305254): Form ADV filing data as of October 2026.