Demand for absolute return and fixed income funds has helped J.P. Morgan AM, Jupiter, BNY Mellon, HSBC Global Asset Management and Royal London Asset Management re-enter the top ten asset managers by sales in Q3, according to the Pridham Report.
The data found investors were returning to markets, after seeing the highest ever outflows in the second quarter, but were choosing more cautious mandates in the absolute return and fixed income sectors. This led to a number of groups re-joining the top ten asset managers by sales. HSBC GAM was the highest new entrant by retail sales with £403m of positive flows during the third quarter. This was followed by J.P. Morgan with £357m, BNY Mellon Newton with £328m and RLAM with £310m. Editor of the report Helen Pridham said: "J.P. Morgan is one of the new arrivals in the top ten net...
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