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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.”

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