Equities  

Woodford top after tough year for UK fund sales

Woodford top after tough year for UK fund sales

UK net retail sales of funds fell to their lowest level for three years in 2015 as volatility challenged global markets, according to the latest Pridham report.

According to the report, increased redemptions pushed net sales to their lowest point for three years, at £17.6bn, despite gross sales hitting a new record for the year.

In comparison net retail sales reached £21.6bn in 2014, £20.9bn in 2013 and £14.4bn in 2012.

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“Volatile markets market meant investors were unsure of market timing although many were looking for income, boosting demand for equity funds which accounted for nearly half of all sales according to industry statistics,” the report said.

“However investors also showed a desire to balance their portfolios with targeted absolute return and property funds.”

Estimates from the report showed Woodford Investment Management had the strongest net retail sales both for the final quarter of 2015, at £800m, and for the whole year in general.

Over 2015, the company saw some £3.3bn of estimated net inflows, though this was down 15 per cent from 2014.

Standard Life Investments enjoyed £3.1bn of net retail inflows, according to the report, with Gars leading the way once again.

BlackRock’s multi-asset and passive products lifted it to third place, while Legal & General Investment Management, 7im and Fidelity were new entrants to the top ten.

Fund groupNet retail sales in 2015
Woodford Investment Management£3.3bn (estimate)
Standard Life Investments£3.1bn
BlackRock£2.2bn
Old Mutual Global Investors£1.8bn
Artemis£1.4bn