UK fund net sales drop in Q3 as investor caution rises

Net sales for UK fund groups turned negative in Q3, marking a sharp contrast to the strong performance earlier in the year, according to the Pridham Report by ISS Market Intelligence. Vanguard led the net sales rankings with £1.6bn, followed by HSBC (£962m) and Fidelity (£723m). Artemis was the leading active manager, driven by strong demand for income-focused funds such as Artemis Income. Passive funds experienced significant outflows, particularly in equity strategies, as investors shifted focus ahead of the UK budget. Sustainable funds, however, showed early signs of recovery, with slowed...