Old Mutual Global Investors was the best-selling asset manager by net retail sales in the third quarter, with flows of £995m between July and September, according to the latest Pridham Report.
OMGI saw sales jumping 36% during the period, usurping Legal & General Investment Management, which fell into third place. Sales at LGIM were £586m, down from £1.1bn in the second quarter. Sales of OMGI's multi-asset Cirilium range made up around half of its net flows, while its single-strategy funds such as the £3.2bn Old Mutual UK Mid Cap, managed by Richard Watts, and £346m Old Mutual Asia Pacific, run by Amadeo Alentorn, also saw strong net sales. This comes despite the OMGI business being put up for sale by parent firm Old Mutual amid a 'managed separation' of the wider business...
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