M&G Investments was the biggest selling asset manager in the first quarter of 2012 after recording net sales of just under £1.4bn, according to research by Fundscape.
Comparatively, second-placed Standard Life Investments saw net retail sales of £483.5m over the same period.
Threadneedle came in third with £472.1m, BNY Mellon was fourth-placed with £469m, while fifth-placed BlackRock drew £314.2m in net retail sales.
Kames reported £306m, HSBC saw £273.2m with Cazenove close behind with £271.2m. Investec made £200.8m in net retail sales and Axa £196.8m.
M&G also reported the highest level of gross retail sales, making more than £3.1billion during the first quarter.
Fundscape director Helen Pridham says: “As a result of its ongoing popularity with investors and advises alike, it’s assets under management rose to £41 billion, making it the largest company by assets and knocking Invesco Perpetual off its long-held perch.” (article continues below)
She adds: “In summary, it was a reasonable start to 2012, but with stock markets becoming more volatile again and the ISA [individual savings account] season ending in Q2, maintaining this positive trend will be difficult.
“The rest of year is likely to disappoint with RDR [retail distribution review] coming up, multi-asset managers may buck the trend.”