Mixed Investment sector tops FundsNetwork sales in May
The Mixed Investment 20-60% Shares sector was the biggest selling sector for independent financial advisers during May on Fidelity FundsNetwork.
Other popular sectors included fixed interest sectors, including the UK Corporate Bond (second), UK Strategic Bond (fourth) and UK Money Market (eighth) fund sectors.
Top 10 IFA Sales by Fund via FundsNetwork
Fidelity MoneyBuilder Income
Invesco Perpetual High Income
Fidelity Strategic Bond
M&G Optimal Income
Jupiter Merlin Income Portfolio
Invesco Perpetual Distribution
Cazenove Multi-Manager Diversity
M&G Strategic Corporate Bond
Newton Global Higher Income
Standard Life Global Absolute Return Strategy
The most popular fund during May was the £2.9 billion Fidelity MoneyBuilder Income fund managed by Ian Spreadbury, with a number of income funds dominating the top 10 best-selling funds during May. Other popular funds included Neil Woodford’s Invesco Perpetual High Income fund, Spreadbury’s Strategic Bond fund, Richard Woolnough’s M&G Optimal Income fund and the Jupiter Merlin Income fund managed by John Chatfeild-Roberts and his team. A second Woodford fund, the Invesco Perpetual Distribution fund, which he co-manages with Paul Causer and Paul Read also made an appearance in the top 10
Klare Baldwin, head of marketing at FundsNetwork, says: “With the market turbulence and the uncertainty that has surrounded the eurozone and Greece, it is unsurprising that the money market sector crept back into the top ten sector sales last month. (article continues below)
“Whilst income funds remain the key focus, the emergence of multi-manager proves that these types of funds are also becoming increasingly popular as investors seek to diversify their portfolios and reduce risk to effectively shelter their portfolios from the storm.”
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