BlackRock has tumbled from the top spot of a coveted annual list of fund management brands in the UK, with FTSE 100-listed Schroders beating the US behemoth to the number one position.

BlackRock, the world’s largest money manager with more than $6tn in assets, had been the top fund manager brand in the UK for the past two years but was voted the third most popular in the latest survey of 1,000 influential fund selectors overseeing €3.2tn in assets.