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Fidelity is leading fund sales league by nearly £100,000

Fidelity&#39s total net retail sales outstripped its nearest competitor by almost £100m in the second quarter of the year, according to a confidential report only available to fund managers.

The Fund Sales Report, seen by Money Marketing, shows that Fidelity&#39s sales hit £426m in the second quarter while nearest rival HSBC – which recently lost its top-performing UK and European fund management team – took in £333.5m.

Third was Legal & General with sales of £261m – helped by its high-street distribution links with firms such as Barclays and Alliance & Leicester – while New Star&#39s continuing success in the retail market was underlined with sales of £204.9m, putting it in fourth place.

Schroder came fifth with £169.7m while the success of Credit Suisse&#39s multi-manager service and the performance of star manager Bill Mott&#39s income funds helped sales reach £150.6m and sixth place.

Halifax was seventh with sales of £140.5m and Newton eighth with £140m while Invesco Perpetual (£134m) and M&G (£129.7m) were ninth and 10th respectively.

Special mention in the report goes to fund boutique Liontrust which, despite employing less than 40 staff and having no advertising, came 11th, ahead of brands such as Threadneedle.

The report says: “Being a large worldwide brand alone does not convince investors and the recent successes of relatively unknown brands demonstrates that smaller managers can also achieve a considerable impact even among retail investors.”

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