View the article online at http://citywire.co.uk/money/article/a765582
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.
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.
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In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.
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by Robert St George on Feb 20, 2017 at 00:01