View more on these topics

New Star is Isa season winner with sales up 329%

New Star appears to be the big winner in this year’s Isa season with sales up by 329 per cent on last year’s figures.

Artemis estimates a rise of 200-300 per cent in sales, Jupiter estimates a 40 per cent rise while Investec says March was its best month ever. Most other providers say they have seen modest rises in sales this season.

Among fund supermarkets, Cofunds saw Isa sales for the season rise by 10 per cent on last year while FundsNetwork’s sales inc-reased by 30 per cent, with evidence that multi-manager funds are gaining in popularity.

Hargreaves Lansdown head of research Mark Dampier says its Isa sales are up by 10-20 per cent on last year, with companies such as New Star, Fidelity, Jupiter and Invesco Perpetual doing the majority of the business.

New Star’s property fund sold 100m, the sterling bond fund 25m, the high-yield bond fund 20m, the mid-cap UK alpha fund 50m, the European growth fund 60m and the managed distribution fund 32m.

Marketing director Rob Page believes there has been a big polarisation this year between the winners and the losers, with good active managers attracting most business in a performance-driven climate.

Investec managing director David Aird says: “It is not all doom and gloom. Many IFAs are choosing to switch assets, which is good news for us, but for the long-term health of the industry, we need to grow the cake as well as steal bits from each other.”

Recommended

There’s life in the old dog

An offshore life contract could be the adviser’s best friend when generating retirement benefits outside a pension, says Scottish Equitable International head of marketing Steven Whalley.

Barclays banks on choice

Money Marketing is absolutely right to highlight the need for a debate on transparency, particularly in the area of how advisers select and recommend product providers.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment