Fidelity and Legal & General Investment Management have secured a top three spot in both the gross and net retail sales tables in 2022, while a reallocation to fixed income benefited both Royal London and M&G in the fourth quarter.
According to the latest Pridham report, last year saw net annual flows at their lowest level for many years as investors pulled back from risk assets. However, redemptions slowed in the fourth quarter. The market was still dominated by passive products in 2022, with tracker fund sales supporting new business among the top three managers. At £28.6bn, Blackrock managed to attract the highest gross new retail sales for the ninth consecutive year. However, when accounting for outflows, the world's largest asset manager dropped to fourth place, with £1.9bn in net new sales. The net re...
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