Investor pessimism continued to grow throughout Q3, causing funds to see significant outflows and a shakeup in the ranking of retail sales, according to the quarterly Pridham Report.
BlackRock continues to stay strong as the UK's largest asset manager, attracting the highest level of gross fund sales for another quarter in a row, while Fidelity remained at the top of the net sales chart. However, both saw their lead in first place significantly shrink. BlackRock's gross sales fell from £9bn to just £5.8bn between quarters, while Fidelity's net sales halved from £1bn to £512m. Legal & General Investment Management moved up in both gross and net sales to the number two spot in both, overtaking Fidelity and HSBC Asset Management respectively. This was largely due ...
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