Woodford Investment Management and Fundsmith were among the top selling fund firms in the second quarter.
Neil Woodford's CF Woodford Equity Income fund attracted £1.6 billion in its offer period between 2 June and 19 June, the biggest launch in recent memory, propelling it to second spot in the latest quarterly Pridham report.
BlackRock claimed top spot, with £1.9 billion of inflows, thanks to bulk purchases of its tracker funds, which accounted for 90% of inflows in the second quarter.
BlackRock replaced Old Mutual Global Investors, which fell out of the top 10. It also usurped M&G as the top gross seller, taking in £3.42 billion.
Elsewhere Standard Life moved up from fourth to second in the net seller league with an inflow £642.5 million, thanks to continued demand for its absolute return products.
Meanwhile Henderson Global Investors consolidated third spot with an inflow of £796.9 million, a 29% increase on the previous quarter.
A major contributor to this has been the Henderson UK Property fund on the back of the popularity of the asset class among income-seeking investors. The European equity and Cautious Managed funds also played a role in the firm's performance.
It was also a good quarter for Citywire AA-rated Terry Smith’s (pictured) firm FundSmith, which entered the league in seventh spot, as retail sales more than doubled to £279 million over the quarter.
The report’s author Helen Pridham said: ‘The success of Woodford Investment Management and Fundsmith, along with other small independent managers, demonstrates that there is still plenty of room in the UK market despite all the talk of concentration in recent years.’