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Adviser Fund Index

Shifts in the Adviser Fund Index panellists’ portfolio recommendations following the rebalancing on May 1 provide useful insights into the current popularity of fund management groups.

The aggregated panellists’ allocations to funds managed by certain groups have altered significantly across all three indices.

Within the Aggressive AFI, while Artemis and Invesco Perpetual are still the two best-represented groups, panellists’ allocations to Jupiter funds have risen significantly while three Axa Framlington funds were dropped.

Merrill Lynch has also climbed strongly up the rankings with the addition of Merrill Lynch European dynamic and Merrill Lynch UK absolute alpha to the riskiest AFI.

M&G funds significantly gained popularity among panellists’ Balanced portfolio recommendations, with M&G smaller companies and M&G strategic corporate bond both entering the index from May 1. Artemis, New Star and Invesco Perpetual remained the three best-represented fund groups in the Balanced index, with M&G rising to fourth place.

Schroders moved down the table after the panellists dropped Schroder European and Schroder Japan alpha from the index.

The increased popularity of Jupiter and Merrill Lynch within the Aggressive index was also replicated in the Cautious AFI – both groups had two funds added.

Standard Life and Artemis remain among the three best-represented groups in the index, while overall weightings to Invesco Perpetual funds have reduced significantly.

Jupiter has climbed to second place. As previously reported in Money Marketing, Anthony Bolton’s Fidelity Special Situations fund was another casualty, falling out of the Cautious index.

The table below shows the 20 best-represented fund management groups across all three AFIs, with Artemis, Invesco Perpetual and Jupiter topping the rankings. Companies are ranked according to a weighted factor reflecting both the number of instances of funds from a particular group across the three AFIs and the total weighting that the group’s funds make up of all three indices.

The recent global equity market correction has continued to affect performance of all three AFIs. The previous pattern of the Aggressive index posting the strongest performance and the Cautious AFI lagging behind the other two indices has reversed as a result of falls in global stockmarkets.


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