Invesco Perpetual is one fund group to have benefited as investor cash begins to flow back into bonds...
Invesco Perpetual is one fund group to have benefited as investor cash begins to flow back into bonds, according to Lipper’s report on Q2 fund sales.
The group was top of table for gross retail sales over the quarter, largely due to inflows into its corporate bond funds.
Second was BlackRock, bolstered by sales on Mark Lyttleton’s increasingly popular UK Absolute Alpha vehicle. Lipper said the fund has contributed towards BlackRock’s 27% rise in gross sales, the sharpest increase in new business of all the groups. It also saw its net sales rise by 23%, ranking it in first place for the quarter.
M&G and Jupiter were placed fourth and fifth respectively for their gross and net sales. M&G has shown good all round performance, while Jupiter’s Merlin multi-manager range has improved its sales, according to Lipper.
An increase in fund sales through pension plans has helped boost the numbers this quarter after the last two were disappointing.
Helen Pridham, author of Lipper’s report, said: “Sales of funds via pension plans have become increasingly important to a growing number of asset managers in recent years.
“However, even this is not enough to take up the slack when retail investors start favouring cash savings accounts instead of funds and institutions decide their money can be put to better use elsewhere, as they did in June.”
