A survey among 920 fund distributors has named BlackRock as the top asset management brand in Europe. This is the third straight year that the largest investment house in the world has led 49 other asset management brands. The 920 fund distributors who made the selection promote funds to the larger market and manage investor assets totaling to €1.9tn. The experts were asked to list the top three suppliers based on 10 brand attributes, which included innovation, expertise, stability of process and adaptability to market change.
• Deutsche Asset and Wealth Management – number six
• Carmignac – number seven after slipping five places
• Pictet – number eight
• Pimco – number 10
Schroders dropped two positions and finished in number 11, which pushed it out of the top 10. One of the biggest losers was BNP Paribas, which slipped nine places and ended up in the 29th position. Richard Buxton, the former star manager at Schroders, left the asset management fund in March; something that partly led to its poor performance, according to Diana Mackay of Fund Buyer Focus, the research firm that conducted the survey. Mackay explained that the asset management field was fiercely competitive, as businesses competed for the attention of distributors. Although Legg Mason was number 36, it had the biggest climb after jumping 12 places.