Woolnough fund tops platform sales

Richard Woolnough’s M&G Strategic Corporate Bond fund was the most popular fund sold via platforms during the final quarter of 2011, according to The Platforum.

His M&G Corporate Bond and M&G Optimal Income funds were also among the top five selling funds during the fourth quarter, according to data from Touchstone.

The income trend continued with Neil Woodford’s Invesco Perpetual High Income fund and the Jupiter Merlin Income Portfolio, overseen by John Chatfeild-Roberts, completing the top five funds.

The biggest selling sector during the fourth quarter was the IMA Cautious Managed sector. Other sectors included the IMA Sterling Corporate Bond, IMA Sterling Strategic Bond, UK Equity Income and UK All Companies sectors.

Adviser respondents to The Platforum poll revealed 44.4% would not favour any sector during the next six months.

According to the latest adviser platform guide, 46.9% of advisers polled would not favour any single fund management houses, increasing from 32.4% during the third quarter.

However, a greater number of advisers did highlight passive fund providers Vanguard and Dimensional.

Freddie Findlater, the head of adviser platforms at The Platforum, says: “I think what we are seeing here is a significant shift away from IFAs feeling like they want to, or have the ability to micro-manage the investment process.

“Decision making is being moved upstream to more institutional channels – the centralised investment process is here.”