Woodford tops net fund sales in final quarter of 2014

Woodford tops net fund sales in final quarter of 2014

Neil Woodford’s new fund management venture topped the sales charts for the fourth quarter of 2014, according to the latest Pridham Report.

The analysis shows the CF Woodford Equity Income fund, which was also the number one in the preceding three months, enjoyed net retail sales of £1.1bn in the final quarter of 2014.

Helen Pridham, editor of The Pridham Report, said: “Like any new provider, the company’s redemptions are minimal but especially because it is catering for income investors suffering from a dearth of alternatives because of low interest rates.”

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The world’s largest asset management group BlackRock, came a close second with just over £1bn in sales, while Standard Life Investments took bronze after amassing £769.2m.

BlackRock, however, was 2014’s overall winner after witnessing net retail sales of more than £3.5bn, more than double the previous year’s total. But fledgling firm, Woodford Investment Management, was runner up with a tally of £3.85bn.

One of the most notable trends in 2014 was, according to the study, the 150 per cent growth in net retail sales of property funds to a record £3.8bn, marking a level 5 per cent higher than the previous peak in 2006.

The report says best-selling property funds last year included M&G Property Paif and Henderson UK Property.

Ms Pridham said: “M&G was one of the first to convert its fund to a tax efficient Paif and others have followed.

“Henderson’s revival last year was very much boosted by increasing sales of its high yielding property fund.”