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Fidelity flies high in Isa tables but caution remains

Top 10 ISA sellers in February

1. Fidelity special situations

2. Credit Suisse income

3. Fidelity European

4. ABN Amro high income

5. Newton managed

6. Invesco Perpetual corporate bond

7. Newton higher income

8. Fidelity American

9. ABN Amro UK growth

10. Framlington health

Source: Skandia

Fidelity is on course to top this season&#39s IFA Isa sales tables after accounting for three of the top 10 sellers via Skandia&#39s fund supermarket in February.

Fidelity special situations and European, both run by veteran star fund manager Anthony Bolton, are first and third respectively, with Fidel-ity American at number eight.

Credit Suisse&#39s monthly income fund, managed by Bill Mott, took second spot as CSAM achieved its best-ever month of sales in February.

With just a few days until the end of March, Skandia says there are likely to be just two changes to the February figures. Tenth-placed Framlington health and seventh-placed Newton higher income are set to drop out of the top 10, to be replaced by Liontrust first income and Skan-dia&#39s cash fund.

The popularity of the cash fund illustrates the continued reluctance of many investors to go back into equity markets. Instead, they are opting to hold their Isa allowance in cash before phasing it into the market later in the year.

Skandia head of investment sales Angus Duncan says: “IFAs seem to be responding to lower levels in world markets and improved data from America by investing their clients into funds well positioned to take advantage of any positive market movement while at the same time protecting their clients&#39 income needs.”

Michael Philips proprietor Michael Both says: “I am advising clients to be ultra-cautious at the moment. I am saying to clients that we do not make money by being brave, we make it by being right, so I am putting quite a lot into cash.

“Phasing is a welcome innovation and one we have been using. I think this accounts for the large amounts going into Skandia&#39s cash fund.”


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