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Old Mutual and New Star head UK fund tables

Old Mutual and New Star topped the tables in IFAs’ favourite fund sectors last year, according to Lipper.

Old Mutual’s UK select mid-cap fund managed by Ashton Bradbury headed the UK all companies sector with a return of 31.6 per cent compared with a sector average of 22.4 per cent.

JPM Asset Management was second with its UK dynamic fund managed by Ajay Gambhir, which returned 30.9 per cent.

The UK equity income sector was topped by New Star’s UK strategic income fund managed by Paul Craig, which rose by 36.8 per cent over the year against a sector average of 21 per cent. Neil Woodford’s Invesco Perpetual high income fund was second, up by 26.7 per cent.

In the UK cautious managed sector, Jupiter, Seven Investment Management and Credit Suisse featured in the top five but were beaten to the top two spots by Axa’s global distribution fund and Henry Maxey’s CF Ruffer total return fund. The UK corporate bond sector was dominated by long-dated bonds, with Credit Suisse and SG Asset Management topping the table.

In the specialist sector, Investec’s global energy fund led the way, helped by global oil price rises, followed closely by Baring Korea.

Innes Reid managing director Mark Reidford says: “Japan and emerging markets may have had good performance last year but the figures show that stunning performance is still to be obtained from home shores. Bradbury’s performance at Old Mutual and Craig’s performance at New Star are likely to encourage IFAs to look further at these funds.”

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