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.
News sponsored by:
After Boris announced he was backing Brexit, sterling suffered its biggest slump in six years. Our Market Mavens discuss. Follow the Market Mavens LinkedIn page for weekly videos, in which our panel of industry experts share their views on financial news
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
More about this:
Look up the funds
- CF Woodford Equity Income C Inc
- Henderson UK Property Inc
- SWIP Property Trust A Acc
- Standard Life Global Absolute Return Strategies A
Look up the shares
Look up the fund managers
More from us
- Neil Woodford to leave Invesco Perpetual
- Terry Smith lifts lid on emerging markets trust
- Warning over property as fund sales rocket
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Dylan Lobo on May 05, 2016 at 13:09