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Fidelity is leading fund sales league by nearly £100,000

Fidelity&#39s total net retail sales outstripped its nearest competitor by almost £100m in the second quarter of the year, according to a confidential report only available to fund managers.

The Fund Sales Report, seen by Money Marketing, shows that Fidelity&#39s sales hit £426m in the second quarter while nearest rival HSBC – which recently lost its top-performing UK and European fund management team – took in £333.5m.

Third was Legal & General with sales of £261m – helped by its high-street distribution links with firms such as Barclays and Alliance & Leicester – while New Star&#39s continuing success in the retail market was underlined with sales of £204.9m, putting it in fourth place.

Schroder came fifth with £169.7m while the success of Credit Suisse&#39s multi-manager service and the performance of star manager Bill Mott&#39s income funds helped sales reach £150.6m and sixth place.

Halifax was seventh with sales of £140.5m and Newton eighth with £140m while Invesco Perpetual (£134m) and M&G (£129.7m) were ninth and 10th respectively.

Special mention in the report goes to fund boutique Liontrust which, despite employing less than 40 staff and having no advertising, came 11th, ahead of brands such as Threadneedle.

The report says: “Being a large worldwide brand alone does not convince investors and the recent successes of relatively unknown brands demonstrates that smaller managers can also achieve a considerable impact even among retail investors.”


Manor Park – Guaranteed Global Growth Fund

Monday, 2 September, 2002 Type: Guaranteed growth bond Aim: Growth linked to the global basket index Minimum investment: $7,500 Place of registration: Guernsey Investment split: 100% linked to the global basket index Guarantee: Client&#39s choice of between 85 &#45 110% of capital returned in full at end of five-year term regardless of movement of the […]

New fixed loans from Chelsea Building Society

Chelsea Building Society has announced the launch of two fixed rate mortgages available from August 31.The first will be capped at 2.99 per cent for two years and the other fixed at 4.69 per cent for three years. Both will revert to the Society&#39s standard variable rate following the fixed periods. The SVR is currently […]

Platinum Capital Management – Platinum Washington Fund

Thursday, September 5, 2002Type: Hedge fundAim: Growth by investing in US equitiesMinimum investment: Lump sum $150,000 or Euros 150,000Place of registration: Cayman IslandsInvestment split: 100% in US equitiesIsa link: NoCharges: Annual 2.5%Commission: Subject to negotiationTel: 020 7887 6110

New Star Asset Management – New Star Japan Hedge Fund

Thursday, September 5, 2002Type: Hedge fundAim: Growth by investing in Japanese equitiesMinimum investment: Lump sum $150,000, yen 1.5mPlace of registration: BermudaInvestment split: 100% in Japanese equitiesIsa link: NoCharges: Annual 1.5%Commission: NoneTel: 020 7225 9200


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