M&G Investment Management, an investment manager in the United Kingdom, failed to acquire UK Mortgages, a listed closed-ended investment fund which invests in a diversified portfolio of UK residential mortgages, for $240m. M&G Investment Management believes that the underlying assets held by UK Mortgages are complementary to those held by the fund and will enable it to further build on its track record in acquiring and managing very similar assets in a private setting and is supported by the long-term capital of the fund it manages.