Pridham Report: Fund sales show signs of recovery

Investors cautiously optimistic

Fund sales in the first three months of 2023 improved compared to the previous two quarters, the latest Pridham Report found.

Despite high inflation, continuous interest rate hikes and fears of a banking crisis, gross sales for Q1 2023 were up as investors modified their asset allocations to take advantage of the current economic backdrop. Pridham Report: Fidelity and LGIM gain top three spot for gross and net sales in 2022 Overall levels of new business were not as high as previous years, but the report found some fund groups fared better than others. In fact, seven of the top ten managers increased their gross sales in the three-month period compared with Q1 2022. Passive players continued to dominat...