Woodford’s new fund most popular in March

The Woodford Income Focus fund was the most popular fund in March, according to The Share Centre, which reckons investors are abandoning his Equity Income fund for the new launch.

Both funds featured in the top two spots of the top traded funds for the month, but in February the Equity Income fund, established in 2014, was being sold by investors, The Share Centre notes.

Andy Parsons, head of investments at The Share Centre, says: “In February we noted that the the Woodford Equity Income fund was the top traded fund as a result of being sold more times than it was purchased over the monthly period, potentially  as investors sold out in preparation of the upcoming launch.”

Parsons says the success of the new Income Focus fund is unsurprising given the media attention, focus on income and having someone “tried and tested” like Neil Woodford at the helm.

When Woodford confirmed the launch of the Income fund in January, investors speculated that it would overlap and potentially “cannibalise” the existing Equity Income fund.

There were three UK-focussed funds in the top traded funds last month with the Old Mutual UK Mid-Cap fund joining the two Woodford funds in the top 10.

“It appears that despite all the rhetoric around the enactment of article 50, investors are still showing confidence in the UK economy,” says Parsons.

The Share Centre’s top traded funds in March:

  • CF Woodford Income Focus 
  • CF Woodford Equity Income
  • Fundsmith Equity
  • Jupiter India
  • Legg Mason Japan Equity
  • Schroder US Mid-Cap
  • Rathbone Global Opportunities
  • AXA Framlington Global Technology
  • Newton Global Income
  • Old Mutual UK Mid-Cap