Pridham Report: Fidelity sees strongest sales on record in 2016

Overall sales lowest since 1995

Net retail sales fell to their lowest level in over 20 years in 2016, according to the latest Pridham Report, although Fidelity and BlackRock bucked the trend.

The report, which analyses fund sales, found 2016 was a difficult year for asset managers as net retail sales reached the lowest level since 1995 as a result of volatility surrounding Brexit and Donald Trump's election to US President. However, some groups such as Fidelity, Fundsmith and BlackRock managed to record strong positive sales. Appetite for absolute return boosts Q3 sales Looking at net retail sales for the year as a whole, Fundsmith saw sales of £2.9bn followed by Fidelity which saw sales of £1.6bn, its strongest year in history. This was helped by funds such as Fidelity...