Cazenove multi-managers join FundsNetwork top sellers
McDonald and Brookes debut in top-ten IFA fund sales list for the Fidelity FundsNetwork platform.
Cazenove Capital’s multi-managers have joined the list of the best-selling funds on Fidelity’s FundsNetwork platform.
Robin McDonald (pictured) and Marcus Brookes have joined Jupiter’s Merlin fund of funds manager John Chatfeild-Roberts on the month-by-month list of the platform’s most sold funds.
The duo’s flagship Diversity fund ranked seventh in May - hot on the heels of Mr Chatfeild-Roberts’ £3.5bn Jupiter Merlin Income Portfolio, which ranked fifth.
The FundsNetwork top-ten debut comes after Cofunds, another ‘big three’ UK platform giant, last week revealed that the Diversity fund was its second-most sold fund in May.
On that platform the Cazenove fund outsold the Jupiter Merlin Income Portfolio, which ranked in third place.
The Cazenove Multi-Manager Diversity fund has received consistently strong investor inflows since the market bottomed in early 2009, at which point it had roughly £300m under management.
According to Cazenove, as at yesterday (June 19) the fund had £841m in assets - meaning it has more than doubled in size in the space of three years.
It also outsold Standard Life Investments’ giant Global Absolute Return Strategies product in May, the Fidelity May sales list shows.
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Top 10 IFA Sales by Fund via FundsNetwork (May) |
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|---|---|
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1 |
Fidelity MoneyBuilder Income fund |
|
2 |
Invesco Perpetual High Income |
|
3 |
Fidelity Strategic Bond fund |
|
4 |
M&G Optimal Income fund |
|
5 |
Jupiter Merlin Income Portfolio |
|
6 |
Invesco Perpetual Distribution |
|
7 |
Cazenove Multi-Manager Diversity |
|
8 |
M&G Strategic Corporate Bond fund |
|
9 |
Newton Global Higher Income fund |
| 10 | Standard Life Global Absolute Return Strategies |