BlackRock saw the highest number of gross retail sales in 2015, according to the Pridham Report, with the popularity of its mixed asset funds helping push gross sales up 8 per cent on 2014.
Across the board gross retail fund sales reached a new record in 2015, although net sales dropped to their lowest level for three years on the back of increased redemptions, down almost 19 per cent down on the previous year.
Helen Pridham, editor of The Pridham Report, says: “BlackRock continues to benefit from the popularity of its passive fund range but these accounted for a lower proportion of its flows in 2015. One of the areas that it saw most progress last year was in the sales of its mixed asset funds.”
In terms of net sales, Woodford Investment Management came top, despite its net flows dropping 15 per cent on 2014.
Legal & General Investment Management, 7IM and Fidelity were all new entrants in the top 10 for net retail sales. LGIM benefited from the popularity of its property fund and passive products, while 7IM saw an increased interest in its multi-asset funds and Fidelity was supported by a turnaround in performance.
“Volatile stock market conditions may hold fund sales back in 2016,” Pridham says.
“However, continuing low interest rates and the long-term case for equity income investing, combined with the availability of more cautious mixed asset and targeted absolute return funds mean that the industry still has plenty to offer investors.”