The latest Pridham report shows Artemis and Henderson have been among the biggest beneficiaries of the renewed interest in equity funds.
The report comes on the back of recent Investment Management Association figures, which showed equity funds produced net sales of £8 billion in the first nine months of the year as the stockmarket rally lifted sentiment.
Net retail sales at Artemis, where equity funds account for 70% of its business, jumped from £366 million in the second quarter to £498.5 million, which the report attributed to flows into their Income, Global Income and Strategic Assets funds.
Artemis shot up from sixth sport to third in the table behind Standard Life Investments, which retained top spot for the fourth consecutive quarter with an inflow of £819.9 million thanks to continued interest in its Gars strategy.
Schroders took second place following £622.1 million inflow mainly due to the popularity of its newly acquired Cazenove fund range, where the UK Opportunities fund was the star with an inflow £900 million over the quarter.
Henderson was another beneficiary of more favourable market conditions as it entered the top 10 in fourth spot with a £481.9 million inflow, with its European equity range particularly popular thanks to the recovery in the continent. The group also saw inflows into its UK Property fund as investors sought to diversify their sources of income.
Elsewhere Barings took 10th spot – its first time in the top 10 for some time – with an inflow of £241.1 million due to interest in its Mixed Assets and European equity funds.
Invesco Perpetual was also back in the top 10 in eighth spot with an inflow of £262.9 million, although this is likely to be a fleeting appearance after it suffered large outflows from its UK equity income franchise on October’s news that star manager Neil Woodford was leaving the firm.
Threadneedle, AXA IM and Baillie Gifford were among the groups to lose their spots in the top 10.
Source: Citywire. Read full article here.