Net retail fund sales declined in the third quarter of 2021 amid fears of a coronavirus resurgence but BlackRock has returned to the top of the gross and net retail sales chart, according to The Pridham Report.
Increased sales of BlackRock's passive products helped boost its position as wealth managers continue to increase their passive exposure. Legal & General Investment Management and Fidelity also attracted strong levels of gross new business. On the net sales side, Liontrust and Baillie Gifford led the way for sales of actively managed funds. Liontrust achieved its highest quarterly net sales on record. Over the last two years it has seen its redemptions increase following its acquisitions of Neptune at the end of 2019 and Architas at the end of 2020. But these outflows are now stab...
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