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Fund firms&#39 ad spend rockets

The advertising spend of some of the UK&#39s biggest fund firms leapt by up to 184 per cent during this year&#39s Isa season compared with last year despite depressed Isa sales.

The statistics are based on advertising rate card costs and give an approximate guide to total advertising spend, not just Isa advertising, although the figures do not take special deals into account.

Figures from advertising monitoring service MMS Medialog show overall expenditure by fund companies in the national press increased by 24.1 per cent to £68.9m in the first quarter of this year from £55.5m in the same period last year. Trade press advertising went up by 3.9 per cent to £8.8m from £7.7m.

Budgets vary greatly between fund managers, with Henderson showing one of the biggest jumps, increasing its national press ad expenditure by 220 per cent to £2,574,479 in quarter one this year from £802,250 last year.

But spend by other fund managers such as Jupiter and Gartmore showed only a modest change from last year.

Gartmore reduced its nat-ional press expenditure by 5.6 per cent to £2,216,150 from £2,347,622 while Jupiter&#39s spend rose by 2.4 per cent to £3,679,043 from £3,593,701.

Jupiter and Gartmore say they have maintained advertising spend while others have come from lower bases, which explains the big increases.

Henderson head of marketing Sarah Speake says: “The increase comes from us doing our corporate advertising in quarter one rather than quarter four as we did previously.”

Gartmore head of product marketing David Piper says: “We also do a lot of advertising not monitored by MMS, especially online.”

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