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Share Centre clients still backing UK markets

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Investors at the Share Centre stuck with the UK market in September, bucking a wider trend to avoid UK assets.

Half of funds featured in its top traded list have heavy weighting towards the UK, including Neil Woodford’s CF Woodford Equity Income fund. This conflicts with recent data from the Investment Association, which found investors are still avoiding UK assets.

Where investors have moved outside the UK, India and Japan have captured their attention.

Investors have also shown enthusiasm for smaller companies, which tend to have a more domestic focus. This theme has gathered pace since August. Old Mutual’s range, including the UK Smaller Companies fund, proved popular.

Sheridan Admans, investment manager at The Share Centre, said: “Investors are continuing to show their confidence in the UK despite the ongoing Brexit negotiations. Mid and small caps are proving popular still – likely as they generate a better mix of revenues domestically and from oversees have seen solid returns in 2017.

“Indeed, they appear to have suffered to a much lesser extent than their large cap peers as a result of the Bank of England’s governor Mark Carney’s comments about raising rates in mid-September, which sent the pound higher. Half of the funds featuring in the top traded list have a heavy and primary weighting towards the region.

AXA Framlington Global Technology also made the top 10. Admans said: “From cars to healthcare, communication to banking and manufacturing, this fund provides investors access to companies where the business is focused on end user applications such as Google, Facebook, Apple and Cisco Systems.”

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