M&G dominates 2009 retail sales

M&G posted net retail sales of £5.6bn for the whole of 2009, putting it way ahead of second placed Invesco Perpetual on £3.62bn, according to Lipper.

Bond funds, run by high-profile managers including Richard Woolnough and Jim Leaviss, attracted the bulk of inflows for M&G up until the end of Q3 2009, accounting for 77% of net sales. However, the group managed to sustain its top ranking sales position until the end of the year with a huge lead in Q4 at £1.065bn. This compares to second placed BlackRock reporting £615.3m for the quarter and third ranking Jupiter on £585.4m. M&G says the popularity of its equity vehicles helped shore up sales towards the end of 2009. Tom Dobell’s M&G Recovery vehicle was the largest and best-selling ...