M&G has topped the gross retail sales rankings for the second quarter after racking up new investments of £2.25bn, according to the latest Lipper UK Fundflash.
The sales came as M&G’s £4.9bn recovery fund managed by Tom Dobell remained popular, offsetting waning interest from its corporate bond fund, Lipper says.
Invesco Perpetual ranks second on the list with sales of £1.95bn and BlackRock is third with “record” sales of £1.78bn.
The report says: “Invesco… remains as popular as ever among income investors as well as attracting backing for its Japan, Latin America and emerging markets funds.
“Meanwhile, Fidelity has chalked up the fifth highest level of gross retail sales, with its MoneyBuilder income fund leading the field.”
Gross retail sales for the industry as a while were £25bn, Lipper says, despite “election and economic uncertainty”.