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Woodford dominates Isa sales

Equity income takes lion’s share of business on platforms but property funds continue to make strong showing.

Invesco Perpetual’s Neil Woodford was the top seller on at least two platforms this Isa season, with UK equity income the dominant sector across Cofunds, FundsNetwork and Skandia.

Woodford’s high-income fund topped the tables on Cofunds and Skandia’s platforms for the first quarter of this year. FundsNetwork only releases its best-selling sectors but UK equity income took most inflows at 20.2 per cent.

The dominance of the sector was most marked on Cofunds, with Woodford’s high-income and income funds taking the top two places followed by Jupiter income. Invesco Perpetual’s monthly income plus fund, along with Jupiter Merlin income and Artemis income, also made the top 10.

Skandia’s best sellers included three Invesco Perpetual income vehicles and Anthony Nutt’s Jupiter income.

Property retained popularity and was the driving force behind the specialist sector taking the second biggest inflows on FundsNetwork at 16.54 per cent.

Norwich property fund was the second-biggest seller on Skandia and fourth on Cofunds, with New Star property eighth on Skandia and fifth on Cofunds. Skandia global property securities was third-best performer on the Skandia MultiIsa platform.

Skandia spokesman Alex Jones says: “That three of our top-selling Isa funds are property is a clear indication of the level of interest this asset class still holds.”

FundsNetwork head of sales and marketing Rob Fisher says: “We are not surprised at how the rankings have fared. As you can see from last year’s rankings, the same sectors have been vying for the top positions.”

Standard Life refused to release its best-selling funds or sectors.

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