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Invesco funds make up 12% of Cofunds assets

Invesco Perpetual funds account for more than 12 per cent of Cofunds&#39 £2bn of assets under management, with the group&#39s high-income fund responsible for 3.5 per cent.

Invesco leads the field with 12.4 per cent of assets, with Jupiter on 9.7 per cent, Artemis 7.9 per cent and New Star 6.8 per cent.

Fidelity, which owns Cofunds&#39 rival FundsNetwork, accounts for 4.4 per cent, trailing behind Newton on 5.6 per cent and Credit Suisse on 4.7 per cent but ahead of Schroders, which is responsible for 4.2 per cent.

Many of these groups have been buoyed by strong sales of equity income funds, with Credit Suisse&#39s income fund accounting for 2.9 per cent of assets and Jupiter&#39s giant income trust – managed by Tony Nutt – responsible for 2.7 per cent.

Boutique Liontrust has also benefited from this trend, with its first income fund accounting for 2.5 per cent of the platform&#39s assets ahead of Gartmore&#39s European selected opportunities fund, which is curr-ently responsible for 2.2 per cent.

Most of the sales have been through Isas or Peps. Cofunds says 74 per cent of its assets are through either wrapper, with direct funds accounting for the remaining 26 per cent. Of these, 52 per cent are transfers.

Marketing director Rick Andrews says: “Invesco has been quick to recognise changes in the UK distribution model and its support of supermarkets in particular is reflected in its assets on the platform.”


CML tells Treasury to stop piecemeal housing solution

The Council of Mortgage Lenders has told the Chancellor of the Exchequer to stop the piecemeal Government interventions in the housing market which it believes is should take second place to a coherent vision. In a Budget “wish list” sent to the Chancellor the CML has also said the Government needs to actively explore how […]

DWP extends waiver on stakeholder charge calculations

The 2001 rule waiver that relieved product providers of the obligation to provide daily calculations of stakeholder charges will be extended for a further year, the Department for Work and Pensions has confirmed. Providers say the fact that they had to ask for the waiver, which was granted after a request from the ABI, shows […]

Eagle is not only MVA offender

Further to Julian Mumford&#39s letter (Money Marketing, February 19), I can inform him and everyone else who may be interested that this problem with market value adjusters does not rest solely with Eagle Star. Having undertaken a review of with-profits bond holdings, we have discovered that this penalty ploy is being applied both by Norwich […]

A consumer&#39s view

It is not much fun being a mortgage lender. First, the BBC&#39s Money Programme has a go at them over self-certification mortgages. The programme claimed that some intermediaries are encouraging borrowers to lie about their income and inflate their earnings, in order to borrow more. The implication was that the lenders had been conniving in […]


Guide: reporting to the Pensions Regulator — what and when?

Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.


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