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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.”


The miles file

April is the cruellest month, wrote TS Eliot in The Wasteland. It will certainly be a difficult time for thousands of savers who sank their savings into a generation of stockmarket-linked bonds with tempting headline rates of return.Four such products, now called precipice bonds by our friends at the FSA, reach maturity next month. Barring […]

78% believe price cap will be raised

Most IFAs believe the Government will concede to industry demands and lift the 1 per cent price cap on stakeholder pensions, according to the Money Marketing/One Account State of the IFA Nation poll.The annual poll found that 78 per cent of respondents – 167 of the 215 IFAs who took part – are confident the […]

Firms applying for IFA captive PI role

The FSA has received formal applications from companies looking to become authorised as a captive professional indemnity insurer for IFAs.As revealed in Money Marketing in February, there have been talks between the FSA, Aifa and the ABI about setting up a captive insurer selling PI insurance to IFAs on a commercial basis.Aifa director general Paul […]

Standard warns of 60% tax over lifetime limit

People aged 30 who earn £41,000 a year will hit the £1.4m lifetime pension contribution limit when they retire unless it is linked to earnings and not prices, Standard Life has warned.The company says linking the limit to prices means that 5 per cent of male earners will be hit with 60 per cent tax […]

A tough start for 2017 consensus trades

By Kacper Brzezniak Every year, starting around November, investment banks (and fund managers) begin to drip out their outlooks for currencies, rates, economies, you name it, for the following year. The consensus has been largely wrong for the past four or five years; those multiple rate hikes never came, the bond market is still alive […]


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