View more on these topics

M&G seizes second spot in fund league

M&G has leapfrogged Fidelity to become the second-biggest asset manager for UK retail funds under management.

It now has £15.2bn of retail assets, compared with Fidelity’s £14.3bn, according to IMA figures for June.

Much of M&G’s growth can be attributed to the success of its bond funds. Its flagship corporate bond fund, managed by Richard Woolnough has more than doubled since January from £1.6bn to £3.8bn while the strategic corporate bond fund, also managed by Woolnough, has grown from £381m to £1.3bn in the past six months.

Invesco Perpetual is the retail fund leader with £26.9bn.

In June 2007, Fidelity had £21.6bn in retail funds, meaning the firm has lost around a third of its assets in the past two years.

Whitechurch Securities managing director Gavin Haynes says: “M&G is pretty strong across the board. It was once seen almost purely as a fixed-interest house but has grown in recent years in UK and overseas equities, such as its successful recovery fund. Fidelity remains a safe pair of hands but has not stood out as much as it should have.”

Recommended

FSA widens approved persons’ regime

The FSA is extending its approved persons’ regime to include director and non-executive director functions at parent and holding companies where their decisions are regularly taken into account by the governing body of a regulated firm.

12

The many faces of Barclays

Barclays is continuing to publicly champion raising standards of advice and increasing consumer confidence whilst rejecting complaints from customers unhappy with the service they were given by its multi-tied advisers.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com