Baillie Gifford  

Baillie Gifford and Royal London top fund sales chart

Baillie Gifford and Royal London top fund sales chart

Baillie Gifford and Royal London Asset Management had the highest net fund sales in the three months to the end of June.

Data compiled by Pridham Consulting shows Baillie Gifford had net retail sales of £855.5m in the quarter, with Royal London next on £561m.

The figures relate only to the sale of open-ended funds, and do not include ETFs or investment trusts.

BlackRock had the highest level of sales when considered at the gross level, at £6.8bn, driven by sales of the company’s passive investment products.

Helen Pridham, who compiled the report said: "Baillie Gifford, which tops the net retail sales chart, is certainly not a small player or a newcomer to investment management but it did not start significantly promoting its open-ended funds in the retail market until around five years ago so its redemptions are still quite light.

"Its strong gross sales reflect its good past performance record in key sectors. Its top seller in the quarter was Baillie Gifford American, and it also saw good flows into its Japanese funds."

The Baillie Gifford American fund is the top performer over one, three and five years in the IA North American sector to date.

Royal London is predominantly known for its fixed income products, but Ms Pridham said sales were also strong for its mixed asset and money market funds.

Paul Gibson, an adviser at Granite Financial Planning in Aberdeen said: "As a firm we have avoided using actively managed funds for several years due to their high charges and general underperformance."

david.thorpe@ft.com