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Fidelity continues supermarket sweep

Fidelity increased its stranglehold on fund supermarket Skandia&#39s list of best-selling Isas last month, accounting for three of the top six funds on the platform.

The US giant&#39s special situations, moneybuilder income and European funds came in first, second and sixth respectively. Jupiter&#39s flagship income fund, which was second in January, dropped back to third place. The Fidelity funds were respectively first, fourth and eighth in January.

Other upwardly mobile funds included Credit Suisse&#39s income fund, managed by Bill Mott, which moved to fourth from fifth place. Invesco Perpetual&#39s European growth fund, however, slid to fifth from January&#39s position of third.

Cash remained in seventh place for the second consecutive month while Henderson&#39s global technology fund moved to eighth from ninth. Also climbing the list was Gartmore&#39s selected opportunities fund, which moved to ninth from 10th, while a new entry to the top 10 – Newton&#39s managed fund – took over 10th spot.

Skandia head of investment sales Angus Duncan says: “Cash remains a very popular choice. With the geo-political situation uncertain and investor sentiment still cautious, we are not surprised by this trend.”

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