Old Mutual Global Investors, which will shortly be subject to a management buy-out led by chief executive Richard Buxton, topped the fund sales charts in the first quarter of 2018, according to data from the Pridham Report.
The report showed Old Mutual had total net retail sales of £910m in the first three months of the year. The data includes sales for both the the multi asset business and the single strategy business.
Old Mutual will shortly split, with the single strategy funds business sold to Mr Buxton and a private equity group while the multi-asset business will remain part of Old Mutual Wealth, which will be renamed Quilter.
BlackRock saw the second largest sales growth, with net inflows of £802m while the fastest risers in the retail sales charts were Baillie Gifford and Miton.
Baillie Gifford, which 20 years ago managed about £9bn, currently manages £190bn. Helen Pridham, author of the Pridham Report, said: "It has upped its profile in the retail market in recent years and campaigned in favour of active management.
"The strong performance of its regional equity funds, notably its Japan and American funds, has underpinned its sales success."
Baillie Gifford recently overtook JP Morgan to become the largest investor trust manager, as measured by market capitalisation in the UK.
Ms Pridham said Miton, which achieved asset growth of £315m during the period, did so through the popularity of its flagship £1.1bn Miton Multi Asset Income fund, run by Gervais Williams, as well as the company’s US and European funds.
She said: "This year may prove more challenging for stock markets globally but most UK investors know the importance of thinking long term and having a balanced portfolio which should ensure a steady flow of business for fund groups."
The Pridham Report is compiled by consultancy firm Pridham and Pridham.