Fund sales decline amid RDR preparations

Graph downA 41% fall in net fund sales to £2 billion (€2.5 billion) in the third quarter highlighted an overall slowdown in fund sales activity in the UK, according to Fundscape and Matrix Solutions. “The first half of the year was relatively buoyant, but by the third quarter sales were beginning to slow as seasonal factors and retail distribution review (RDR) preparation began to bite,” says a statement published with the quarterly Distribution Report. Gross sales across the fund distribution universe were £22.1 billion in the third quarter of the year, down 5% on the previous quarter and 5% on the corresponding quarter of 2011. Bella Caridade-Ferreira, director of Fundscape, says as well as the Olympics in London, eurozone fears and economic uncertainty played a big part. The key driver, however, was that intermediaries had begun to concentrate on preparing for the RDR. Independent financial adviser and wealth manager flows were down 14% and 9%, respectively. ©2012 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.