PIMCO loses bestseller spot to rival BlackRock

PIMCO, the world's largest bond house, lost its position as the best-selling fund group in Europe in the first half of the year.

According to Lipper's mid-year review of the European fund industry, the asset management giant, which topped best-seller ranks in the first half of 2012, has falling to fourth place in the league table. The group amassed €11.3bn (£9.7bn) in net inflows in the first six months of the year. Rival BlackRock topped the sales list with inflows of €13.6bn, closely followed by J.P. Morgan AM with €13.3bn in net sales. Franklin Templeton was propelled to third place by the success of its Templeton Global Total Return fund, which alone took in €7.9bn of the group's €11.3bn inflows. Turning...