M&G topples Invesco Perpetual as AUM surges in Q1

M&G became the UK's largest asset manager by AUM in the first quarter of the year, knocking rival Invesco Perpetual off the top spot, according to the latest Pridham report, published by Fundscape.

The review of the asset management space showed M&G’s funds under management soared to £41bn as the firm’s strong fixed income franchise continued to attract inflows. Many fund groups saw gross and net retail sales increase on the previous quarter and relative to Q1 last year, according to the report. M&G posted its highest gross retail sales on record, soaring past the £3bn mark for the first time to hit £3.153bn. BlackRock came in second place with gross retail sales of £1.876bn M&G also topped the net retail sales chart with £1.386bn, way ahead of nearest competitor Standard Life I...