Revealed: the most popular fund groups of the year, so far…
According to the Pridham Report, which moniters quarterly fund sales, fund sales were ‘disappointing’ in the first three months of this year.
A recent report from the IMA showed that retail sales of funds amounted to £2.7bn in the first three months of this year, their lowest level for five years, despite rising equity markets and continued low rates.
“Austerity and the squeeze on family budgets is clearly not helping matters but the Retail Distribution Review is undoubtedly a contributory factor to the decline in mass market investment, reflected by the lower levels of ISA investment,” said Helen Pridham, editor of The Pridham Report.
But it was not all doom and gloom. Some fund companies continue to enjoy healthy sales flows. BlackRock had one of its best ever quarters measured by gross retail sales, enabling it finally to knock M&G off the top spot.
Elsewhere, Standard Life Investments was top in terms of net retail sales, with total sales of £917.3m, well ahead of peers.
BNY Mellon – which boasts funds including its popular Newton Asian Income mandate – was second with net sales of £658m.
The full tables are below:
Top ten by gross retail sales:
|5||Standard Life Inv||£1,647.40|
Top ten by net retail sales