Buxton boosts Old Mutual to top the fund sales table

Richard Buxton’s arrival at Old Mutual Global Investors has helped push the firm to the top of the fund sales charts for the first quarter of 2014.

Mr Buxton joined OMGI from Schroders in 2013 and his new fund, Old Mutual UK Alpha was the best selling product for the firm in the past quarter, according to the latest Pridham Report.

Sales in Mr Buxton’s fund, as well as OMGI’s other UK equity funds and its Foundation mixed asset range, propelled the firm to net retail sales of £857m during the quarter.

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Following in OMGI wake were Standard Life Investments and Henderson Global Investors, who took second and third spots respectively.

M&G Investments topped the table for gross retail sales, but outflows from Richard Woolnough’s bond funds and the underperforming equity funds, M&G Recovery and M&G Global Basics, meant that it did not figure in the top 10 firms for net sales in Q1.

Other firms that appeared in the top 10 for gross sales but not for net sales included Invesco Perpetual, BNY Mellon, BlackRock, Fidelity and Threadneedle.

Instead, some smaller firms appeared in the net sales top 10, with Kames Capital and Barings propelled onto the list due to sales of their multi-asset funds.

Helen Pridham, editor of The Pridham Report, said: “There has been much talk about multi-asset solutions and many new launches in recent years. They now appear to be gaining some ground in the sales tables as RDR beds in.”

Artemis Fund Managers also had a strong showing in the fourth spot for net sales, benefitting from significant flows into Jacob de Tusch-Lec’s Artemis Global Income fund.