View more on these topics

Exeter marks the spot

The news that Exeter Fund Managers came 14th in Keydata&#39s unofficial top of the Isa pops raised a few eyebrows across the fund management industry.

Despite being the UK&#39s 80th-biggest retail fund manager, Exeter got more IFA recommendations in the survey than rivals such as Schroders, Merrill Lynch and Scottish Widows, all of which are more than 10 times its size.

Perhaps more surprising is the fact that Exeter&#39s success follows a quiet Isa season for the group in terms of advertising as well as a relatively all-round low media profile in recent months.

However, Exeter is unsurprised by the news.

Director Ian Jolliffe attributes its success to word of mouth. He says: “Because markets are where they are at the moment, people are suspicious of the &#39buy me, buy me&#39 approach. Investors can see that we are performing well and I think we are building a reputation for having a safe pair of hands in a volatile market.”

Exeter is by no means a new player in the fund management industry. Founded in 1986 by Ian Henderson, it started as an investment trust admin firm, setting up its first unit trust – the Exeter managed growth fund – in July 1987. Today, the firm has nine funds, and some of the best performance figures on the market.

Recent group weighted performance figures from The Research Department show Exeter is consistently ranked among the top 10 providers over both the short and long term.

In the last 10 years, the group has returned an average of 275 per cent, making it 10th out of 93 UK fund managers. In the past year, it has returned an average of 6 per cent across its funds, making it one of only 15 firms to produce a positive average.

Exeter is looking to build on its success with two new Pep transfer products, capitalising on last week&#39s relaxation of the Pep rules. With around £80bn still held in Peps, the company believes the transfer market is set to boom.

Marketing manager Philip Thitchener says: “There is a huge opportunity for IFAs to add value to Pep investments and the portfolios we are offering could be very useful tools for IFAs. We are continually looking for ways to increase the options available to IFAs.”

The international growth portfolio will incorporate Exeter&#39s global opportunities and managed growth funds as well as its Pacific growth fund, which the company says reflects its current bullish view on Japan.

The UK balanced portfolio will combine its three biggest unit trusts – the equity income, zero preference and capital growth funds.

Exeter has been keen to build a name as a specialist in the zero-dividend preference share market, with its zero preference fund now its biggest fund. It is still one of the few providers to offer a fund of zeros although the market is starting to attract more interest. Jupiter has a similar fund launch planned for later this year.

Exeter&#39s strategy is simply to continue growing organically. With between 80 and 90 per cent of its business coming through IFAs, it remains dedicated to the concept of independent advice.

Having seen such success without shouting too loud, the industry must be wondering what will happen when Exeter moves into top gear.


Fund firms reveal big downturn in Isa sales

An unprecedented number of fund firms have released their Isa season sales figures early, putting an end to the speculation of the past few weeks. The figures confirm most of the industry&#39s fears, with many providers suffering substantial losses on last year. Jupiter and Merrill Lynch were among the worst hit, with sales down by […]

Scottish Amicable runs mortgage roadshows for IFAs

Scottish Amicable Premier Mortgage Service is running a series of IFA roadshows across the UK.The roadshows will each feature presentations from three lenders on topics including e-commerce, mortgage pricing, procuration fees, seller&#39s packs and the impact of lenders becoming brokers.They will also offer regulatory update sessions taken by MCCB chief executive Luke March or compliance […]

Merrill Lynch energises its galaxy of funds

Merrill Lynch Investment Managers is boosting its range of funds with the introduction of the MST world energy fund.The fund is a dollar denominated Luxemburg based SICAV and has been introduced with the experienced investor in mind. Merrill Lynch has aimed it at investors who are looking to add a high-risk fund to their portfolio.MST […]

76% think state ought to look after them

Over three-quarters of the public believe the state should look after them if things go wrong, according to research for Scottish Provident conducted by Mori. Seventy-six per cent of the public think the welfare system should provide an adequate safety net for satis- factory standards of living. ScotProv says the research shows the complacency of […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm