BlackRock retook the top spot for both gross and net sales last quarter for the first time since the third quarter of 2021, while Legal and General Investment Management received its highest ever quarterly inflows, the latest Pridham Report has revealed.
The report found a "muted" environment over Q2, as investors remained cautious in the face of an uncertain outlook, but index investing remained popular. Investors prefer active ETFs while fixed income flows dominate in H1 2023 BlackRock's gross retail sales of £7.4bn and net retail sales of £1.9bn topped the tables, dethroning previous net retail sales leader HSBC Asset Management due to lower redemptions. The report said: "The manager has benefited from continued trends in favour of index investing, such as cost and regulatory pressures. "However, sales of actively managed...
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