Woodford Investment number one for fund sales in June

graph upThe fund launched by Neil Woodford, formerly head of investments at Invesco Perpetual, was the top seller in June, according to industry data. Lipper’s latest Mutual fund performance analysis covering Europe shows the CF Woodford Equity Income Fund headed the top five funds by sales for June 2014, with estimated net sales of €2.1 billion. Woodford announced the creation of his own firm in May. In the Lipper data, Woodford was followed by Prudential/M&G with sales of €1.1 billion and BlackRock with €1 billion. UBS and Pimco completed the top five, both dipping under the billion mark with €819 million and €677 million, respectively. At master-group level, BlackRock headed sales with net sales of €2.7 billion, ahead of UBS and Woodford Investment, both with €2.1 billion.  Lipper’s analysis shows that net inflows for June were driven primarily by flows into bond funds of €19.2 billion, followed by mixed-asset funds with €12.1 billion and equity products with €6 billion. Scottish Widows Gilt bonds held the top position for funds by sales year-to-date, with estimated net sales of €5.4 billion. Mixed-asset funds, with estimated net inflows of around €9.3 billion, are predicted to be the best selling products for July 2014, according to provisional figures for Luxembourg- and Ireland-domiciled funds. ©2014 funds europe

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