Multi-manager funds dominate UK ISA sales

Multi-manager funds have proved the most popular structure among UK retail investors in the weeks before the annual March 31 deadline for subscription to tax-efficient Individual Savings Accounts (ISAs).

This year, multi manager funds have taken six out of the top 20 places in a ranking of ISA sales trends by Cofunds, an independent platform for financial planning. Income was a key theme for investors, with four of the top five funds aiming to provide it. UK equity income has been the second highest selling sector for ISAs so far this year.

Michelle Woodburn, manager, Fund Group Relations at Cofunds said: “…There are clear themes emerging. Investors are looking for income in their tax free investments. While multi-manager funds continued to attract a sizable share of new business, the active equity sectors enjoying the most new business are UK All Companies and Global Growth, which have been placed as the fourth and fifth highest ISA selling sectors.”

The top 20 funds are:

2011 Net Isa Sales (YTD)

1 Jupiter Merlin Income Portfolio

2 Henderson Multi Manager Income & Growth A Fund

3 Invesco Perpetual Monthly Income Plus Fund

4 Thames River Distribution A Fund

5 Invesco Perpetual High Income Fund

6 M&G Optimal Income A Fund

7 M&G Recovery A Fund

8 Invesco Perpetual Distribution Fund

9 Standard Life Investments Global Absolute Returns Strategy R Fund

10 M&G Global Basics A Fund

11 Aberdeen Multi Manager Cautious Managed Portfolio R Fund

12 Artemis Income Fund

13 Newton Global Higher Income R Fund

14 Jupiter Merlin Balanced Portfolio Fund

15 M&G Global Dividend A Fund

16 Aberdeen Emerging Markets A Fund

17 Henderson Multi Manager Distribution A Fund

18 Invesco Perpetual Corporate Bond Fund

19 M&G Strategic Corporate Bond A Fund

20 Newton Real Return A Fund

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