Institutions flex their muscles

UK pension pool LF Access topped February's net sales leader board more than doubling the haul of runner-up BlackRock, which drew in €2.8bn, a shortfall on January's total of €4bn. While there were many familiar names in the list, equally notable was the absence of regulars such as Natixis, Marsh Mclennan and UBS, Many groups were heavily reliant on ETF sales to maintain momentum during the month, though robust flows to a clutch of UBS ETFs failed to prevent the Swiss behemoth plummeting down the rankings, as outflows from its wealth management division and institutional client base took their toll.

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