View more on these topics

Pridham Report shows UK retail funds beating rest of Europe

UK investors remain positive despite retail sales volumes for the latest quarter falling by 17 per cent, according to Feri Fund Market Information.

Feri’s latest UK Fund sales report, the Pridham Report, finds that UK mutual funds did not suffer the cull seen in other European markets.

The UK saw an increase in repurchases during May but a surprisingly robust sales performance in June, opposing trends seen in the rest of continental Europe.

With net subscriptions doubling in this final month of the quarter to over £1.1bn, the UK industry became Europe’s most successful market in June.

After a record first quarter, Feri said it was unlikely that the second post-Isa season quarter would compete but gross retail sales held up remarkably well dipping just 7 per cent below the total achieved in Q1.

Latest figures showed the quarter’s gains to be well spread across the asset
management community with the leading ten groups accounting for just 41 per cent of all inflows.

UK Fund Sales Report editor Bella Ferreira says: “The ability of UK groups to maintain sales progress in the rather bumpy terrain we saw in May and June
stands in stark contrast to the experiences of groups in Continental Europe”

Recommended

FSA screens letters to non-execs

The FSA is intercepting lobbying letters sent to its non-executive directors by trade bodies and other organisations. The move has been attacked by lawyers, with Fishburn Law partner Andrew Davis saying the action is regrettable at a time when the principle of increasing non-executive responsibility is growing in importance. Davis says the FSA should be […]

Marlborough cuts special sits’ charge

Marlborough Fund Managers is reducing the 5 per cent initial charge to 3.25 per cent on direct investments into its 126m special situations fund until October 31. Managed by Giles Hargreave, the fund has returned 580 per cent since Hargreave took it over in July 1998.

Fair trade on the menu

The issue is having wider repercussions as the consumer benefit of the document in its current form is now being called into question. Aifa director general Chris Cummings says the OFT’s decision has sent a clear message that the menu has been skewed against advisers since it was set up when depolarisation was introduced last […]

Capita signs outsourcing deal with Pru

Capita has signed an outsourcing agreement with Prudential to deliver a range of life and pension sales and administration services.Around 450 staff will move from Pru to Capita from the customer services, PruDirect and support services operations in Belfast. The moves will take place in early Autumn under Transfer of Undertakings (Protection of Employment) Regulations. […]

Investment

The Brunner Investment Trust – April 2017

Welcome to the latest update for The Brunner Investment Trust PLC from the Trust’s portfolio manager, Lucy Macdonald. Market Review Global equities have rallied over the first quarter of 2017, buoyed by signs of strengthening growth and optimism over company earnings, although this rally has faded towards the quarter end. US equities posted their strongest […]

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