A positive fourth quarter was not enough to prevent a lacklustre year for inflows into the asset management industry, according to the latest Pridham Report.
Mid-year assertions of "political uncertainty [becoming] the new certainty", both globally and in the UK, led to net annual flows for 2019 remaining "well below average" for the decade. BlackRock and Legal & General Investment Management topped both the gross and net retail sales for the final quarter and the full 12 months. A surge in passive businesses saw BlackRock take over £1bn in net retail sales for the final three months of the year, which takes their 12-month total to just shy of £5bn. This compares with their gross annual figure of £22.1bn. LGIM and HSBC also benefited fr...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
