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Woodford’s new fund powers into second place on best-seller list

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05/04/2017
Neil Woodford’s new high income fund has stormed to second place in the best-seller charts despite only launching a fortnight ago, figures from fund platform AJ Bell Youinvest reveal. 

While the £8bn Fundsmith Equity product, managed by city veteran Terry Smith, was the most purchased fund on the platform during the first three months of the year, the Woodford Income Focus fund entered the top ten at number two.

Woodford’s new fund, which launched on 20 March, prioritises income and aims to deliver a 5% yield by the end of 2018.

His original Woodford Equity Income fund remained popular, taking fourth position.

Ryan Hughes, head of fund selection at AJ Bell, said: “Neil Woodford’s expertise and investment track record have given him an enviable reputation with DIY investors and they embraced his new fund via our platform in the run up to the end of the tax year.

“With the demand for income an ever-increasing trend, an attractive yield target of 5% at launch has grabbed investor’s attention.”

Four passive funds from Vanguard occupied spots in the top ten most purchased list, according to the platform, which has around 70,000 DIY investor clients.

Three of these were from the Vanguard Lifestrategy range, which are all-in-one portfolios containing a selection of Vanguard’s low-cost trackers.

Jupiter India and Fidelity Global Technology were popular choices for specialist exposure.

“It’s interesting to see Jupiter India again in the top 10 as investors appear to have shrugged off the concerns at the end of last year generated by prime minister Modi’s withdrawal of all 500 and 1,000 rupee notes,” said Hughes.

Top ten most purchased funds via AJ Bell Youinvest, January-March 2017:

  1. Fundsmith Equity
  2. Woodford Income Focus
  3. Vanguard Lifestrategy 60% Equity
  4. Woodford Equity Income
  5. Vanguard Lifestrategy 80% Equity
  6. Vanguard Lifestrategy 100% Equity
  7. Jupiter India
  8. Lindsell Train Global Equity
  9. Fidelity Global Technology
  10. Vanguard US Equity Index

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