Pridham Report: BlackRock retakes net flows crown in Q2
BlackRock’s gross retail sales of £7.4bn and net retail sales of £1.9bn topped the tables
The report found a «muted» environment over Q2, as investors remained cautious in the face of an uncertain outlook, but index investing remained popular.
Investors prefer active ETFs while fixed income flows dominate in H1 2023
BlackRock's gross retail sales of £7.4bn and net retail sales of £1.9bn topped the tables, dethroning previous net retail sales leader HSBC Asset Management due to lower redemptions.
The report said: «The manager has benefited from continued trends in favour of index investing, such as cost and regulatory pressures.
»However, sales of actively managed funds remain a core component of its business, and in the second quarter accounted for 24% of gross flows."
LGIM saw its best ever quarterly performance in gross inflows due to growing demand for thematic propositions such as its Global Technology index, but also the strength of its core replacement products, such as the L&G All Stocks Gilt index, which generated the highest sales.
Newcomers to the top ten firms included Rathbones, coming in ninth in gross retail sales with £1.2bn, and Hargreaves Lansdown, which sat at ninth in net sales, with £86m inflows.
The report said that while Rathbones had received «consistent demand for its best-selling bond and equity funds» — Rathbone Ethical Bond and Rathbone Global Opportunities — its largest flows last quarter went to the firm's Strategic Growth Portfolio.
BlackRock AUM continues climb as firm eyes fixed income growth
Meanwhile, M&G continued to climb the leaderboard, ranking sixth for gross and second for net sales thanks to its best quarter for net inflows in over a decade.
The firm's equity range has been
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