New data from Cofunds indicates UK equity Income funds continue to top the polls of most bought fund...
New data from Cofunds indicates UK equity Income funds continue to top the polls of most bought funds in ISA accounts during the months of April and May.
16 of the top 20 funds during the period were UK focused, with equity income funds accounting for 5 of those.
They were: Credit Suisse Income, Liontrust First Income, Credit Suisse Monthly Income, Jupiter Income and Newton Higher Income.
In terms of house names Credit Suisse took top spot with its Income fund and had two funds in the top 20.
Artemis, Gartmore and Newton each had two funds in the top 20.
Liontrust, HSBC, Schroder, Aberdeen, Framlington, Jupiter, Investec, Threadneedle and Henderson all had one.
ABN Amro saw three of its funds make the top 20, although the statistics cover the time before the Luckraft and Thomas spat got ugly and the firm merged its asset management business with Artemis.
Cofunds sales and marketing director Rodney Aldridge says that equity income funds are popular at present because investors are seeking some security.
"Equity and fixed income funds provide the comfort of yield. Over the past six months these types of funds have performed quite well. People looking to put new money into the market are adopting a cautious stance at the moment."
Three examples of compensation rule issues
Buying in baskets
Scam victims lost average £91,000
Stepped down following MBO
Helped by rising oil price