Pridham report reveals worst first quarter for over 20 years

China and Brexit spook investors

The first quarter of the year was the worst for the fund management industry in over 20 years in terms of inflows, with firms suffering as a result of market turmoil in China and uncertainty around Britain's membership of the EU.

The latest Pridham Report has seen Fidelity reach its highest position in the net retail sales table in over a decade, while newer entrants such as Fundsmith and Woodford Investment Management dominated the sales charts. The report shows the largest fund houses are the most susceptible to outflows and switching activity, even though their gross sales remain strong, while smaller businesses have held up better in terms of net flows. Pridham Report: Which groups topped the retail sales chart in 2015? Helen Pridham, editor of The Pridham Report, said: "Groups such as Invesco Perpetual...