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Neil Woodford and Terry Smith storm fund sales charts

Fund launches for Neil Woodford and Terry Smith help drive strong sales in the second quarter of the year.

 
Neil Woodford and Terry Smith storm fund sales charts

Star fund managers Neil Woodford and Terry Smith have stormed the fund sales charts in the second quarter of the year, as their respective fund launches won the favour of investors.

Woodford's launch of the CF Woodford Equity Income fund, after quitting Invesco Perpetual to found his own fund group, was received enthusiastically by investors.

Sales of the fund helped propel Woodford's new firm, Woodford Investment Management, to second place in the net fund sales league table for the three months to the end of June, with net sales of £1.6 billion.

The figures, compiled by The Pridham Report, also reveal a strong showing for Terry Smith's (pictured) fund group Fundsmith. Citywire AA-rated Smith's launch of an emerging markets-focused investment trust, Fundsmith Emerging Equities Trust (FEET), helped the group to seventh place in the table, with net sales of £279 million.

The Pridham Report 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.'

BlackRock topped the table, with net sales of nearly £2 billion, thanks largely to bulk purchases of its tracker funds. The strong performance and popularity of UK commercial property helped Henderson Global Investors to third place in the league table with net sales of £796.9 million, powered in part by strong sales of its Henderson UK Property fund. Scottish Widows Investment Partnership (Swip), which has been bought by Aberdeen Asset Management, also benefited from the popularity of property, with sales of its Swip Property Trust fund helping it notch up eighth place, with net sales of £262.9 million.

Sales of Standard Life's 'absolute return' funds, including its giant Global Absolute Return Strategies fund, helped it reach third in the table with net sales of £732.5 million.

4 comments so far. Why not have your say?

Nigel James

Aug 04, 2014 at 15:51

Your CF Woodford Equity Income fund link http://www.citywire.co.uk/fund/cf-woodford-equity-income/c478122?section=money doesn't work

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Daniel Grote - Citywire

Aug 04, 2014 at 15:55

Sorry Nigel, have taken down link for now, trying to get it fixed

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raymond freeburn

Aug 05, 2014 at 17:15

Can't help feeling that Woodford's fund will grow too large and he will be forced to largely stick to FTSE 100. Better off with a tracker of FTSE All Share?

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Cubby

Aug 11, 2014 at 15:24

I hope everyone has noticed the Woodford fund is down almost 3% already!

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  • Henderson UK Property Inc
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  • SWIP Property Trust A Acc
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  • Fundsmith Emerging Equities Trust PLC
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Aviva agrees £5bn deal to buy rival Friends Life

by Daniel Grote on Nov 21, 2014 at 18:16

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