Old Mutual Global Investors had the highest net inflows of any firm in the UK market in 2017, according to data compiled by Pridham and Co, a consultancy firm.
The company had net retail sales of £3.43bn in 2017. BlackRock topped the sales charts in gross terms, at £16.3bn, with Old Mutual having brought in £8.1bn.
Old Mutual attracted £1.1bn from investors in the final quarter of 2017 alone.
Helen Pridham, who compiled the report, said Old Mutual Global Investors “only really got into gear” as a major fund house when fund manager Richard Buxton arrived at the firm in 2013, when it began to attract significant inflows.
Ms Pridham said this growth will therefore be “newer” money, and less prone to the natural outflows than firms with longer established clients.
Mr Buxton went on to be appointed chief executive of the firm, and as FTAdviser previously reported, has since agreed a management buyout of the business from parent company Old Mutual.
Ms Pridham noted that Schroders, which attracted net inflows of £1.3bn in 2017, tends to perform well when equity markets are doing well, as equities are the bulk of its business.
David.Thorpe@ft.com
