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Income-seeking funds favourite with investors

Eighteen of the top 20 biggest-selling funds on Cofunds in the last six months were income-seeking funds, a big rise over the same period last year.

Retaining first place on the list was the Credit Suisse income fund, which recently lost star manager Bill Mott, while Liontrust&#39s first income fund was in second place – the same position as in the first six months of last year.

Third was Invesco Perpetual&#39s corporate bond fund, which did not make the top 20 in the first half of 2002, and fourth was Fidelity&#39s special situations fund, which joined the platform last December.

Old Mutual&#39s corporate bond fund was fifth – it did not make the list last year – while Legal & General&#39s fixed-interest trust was sixth. Threadneedle&#39s strategic bond fund was seventh, moving up from 18th position, while Jupiter distribution fund – a new entry from 2002 – was eighth.

In ninth place was Rathbone&#39s income fund and 10th was Britannic&#39s corporate bond fund. In total, the number of corporate bond funds in the top 20 more than doubled to nine from four over the same period last year. All were UK funds.

Sales and marketing director Rodney Aldridge says: “Clearly, investor confidence for more speculative investments has yet to return. With deposits and savings rates at a 48-year low, we are still seeking income as a major factor in fund choice.”

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