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Jupiter number one with IFAs survey reports

Jupiter controlled the largest chunk of IFA sales with 8.5 per cent of the market share in 1999 according to the UK Fund Industry Review.

Coming second was Invesco with 6.7 per cent and M&G at 6.4 per cent.

These results are a reflection of the high esteem Jupiter is held in by IFAs. Even given the turbulence the fund manager has gone through in the past few months, investment advisers are for the most part remaining firm in their commitment to the company.

Other results from the survey are that Schroder Unit Trusts came top of the tables in 1999 as the UK fund manager with the most assets under management.

It led the way for the fifth consecutive year, increasing 23 per cent to nearly £15bn from £12bn.

Coming second was Fidelity with £14.7bn followed by M&G with £12.5bn.

Colonial First State Investment enjoyed the largest growth, boosting its funds under management to £2.8bn from £150m. The Australian owned fund manager led the way in sales last year, with gross sales totalling £2.5bn.

Other findings from the review were that The leaders of investment trusts in the UK remained unchanged last year. Henderson led the way again with £7.5bn under management, Fleming second with £6.6bn and Foreign & Colonial at £5.3bn.

The largest individual fund was the Foreign & Colonial Investment Trust with assets of £2.3bn.

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