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Bond sales continue apace

Sales of bond funds continue to soar, according to quarterly numbers from Cofunds. After record inflows in the fourth quarter of 2008, the funds platform said that more than 50% of net sales in the first quarter of this year went into bond funds.

Corporate bond funds once again dominated the top sellers, with Richard Woolnough’s M&G Corporate Bond topping the table. Woolnough’s M&G Strategic Corporate Bond was the third best seller, while his Optimal Income fund came in at sixth.

Another group dominating the top sellers was Invesco Perpetual. It had three funds in the top five sellers, with the Invesco Corporate Bond fund, managed by Paul Read and Paul Causer, highest placed in second. Neil Woodford’s High Income and Income funds completed the set, ranked fourth and fifth respectively.

The second most popular peer group after corporate bonds was the newly created UK Equity Income and Growth sector.

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Corporate bonds stay top


Mexico $47 billion IMF credit line approved

The International Monetary Fund (IMF) has approved a $47 billion (£32 billion) credit line for Mexico, making it the first country to receive the Flexible Credit Line (FCL) facility designed to combat the economic crisis.It is the largest financial arrangement in the history of the fund, which was boosted earlier this month when countries in […]

Tax relief slashed for top-earners

From April 2011, people earning over £180,000 will see their pension tax relief restricted to the basic rate of 20 per cent. Those earning between £150,000 and £180,000 will get relief at a rate between 40 and 20 per cent.

When is £1m not £1m?

Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]


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