// UK

09 Nov 2011 A difficult third quarter for platforms

Overall platform assets declined by 2.3% to £163.9bn in the third quarter as the eurozone crisis took its toll. However Axa Elevate, Nucleus and Ascentric bucked the trend. Despite the summer of discontent, gross sales rose by 1.4% to £12.5bn relative to the previous quarter, but net flows were down slightly (-0.7%) to £7.5bn.  Sales would have been a damp squib were it not for Cofunds with gross flows of £4.6bn and net flows of £3.3bn.
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09 Nov 2011 Sales plummet in summer of uncertainty, but M&G still tops

Fundscape's latest Pridham Report (Q3) showed that sales plummeted over the third quarter.  Most asset managers saw their business decline, but some did well in key fund areas. M&G retained top position in the retail sales chart for a recordbreaking 12th quarter as its bond funds returned to favour again. Click here to read the full press release.
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