July's top five funds
BLACKROCK CIF UK EQUITY TRACKER
The fund attracting the most money in the UK and open-ended investment companies (Oeics) over a one-month period includes a BlackRock tracker fund.
The £5.9 billion BlackRock CIF UK Equity Tracker managed by Nimish Patel was at £4.6 billion over a month ago, and has attracted approximately £1.5 billion between 5 July and 5 August.
Patel's fund tracks the performance of the FTSE All Share Index by investing in companies in the index. The fund also invests in permitted money market instruments, deposits, and units in collective investment schemes.
The top five holdings within the fund include HSBC, Vodafone, BP, GlaxoSmithKline, Royal Dutch Shell.
Over a one-year period, the fund has returned 22.9% compared with 27.6% for the UT UK All Companies sector average as at 5 August 2013.
SCHRODER DIVERSIFIED GROWTH
The second fund to attract the most money is the £4.1 billion Schroder Diversified Growth fund, managed by Johanna Kyrklund. Between 5 July and 5 August the fund attracted inflows of £135.78 million.
The top five holdings in the Schroder fund include the Schroder UK Alpha Plus, Schroder ISF Emerging Markets Debt Absolute Return, T Rowe Price Global Investment SVCS Global High Yield Bond, Schroder ISF Asian Equity Yield and Schroder European Alpha.
The fund invests in a range of asset classes such as equities, bonds and a range of diversifiers, as well as investing in a wide range of investments including transferable securities, derivatives, cash, deposits, collective investment schemes, warrants and money market instruments.
Over a one-year period, the Schroder Diversified Growth fund has returned 15.1% compared with 9.7% for the UT Specialist sector as at 5 August.
BAILLIE GIFFORD DIVERSIFIED GROWTH
The third fund to attract the most money is the £3.8 billion Baillie Gifford Diversified Growth fund managed by Patrick Edwardson and Mike Brooks.
The top five holdings include the Baillie Gifford Emerging Markets Bond, Baillie Gifford Worldwide Active Cash, Baillie Gifford Global Alpha Growth, Baillie Gifford Global Income and Baillie Gifford Worldwide Global Credit.
Over a one-year period, the fund returned 7.7% compared with 9.7% for the UT Specialist sector as at 5 August.
JPM US EQUITY INCOME FUND
Fourth is the £1.6 billion JPM US Equity Income fund managed by Jonathan Simon and Clare Hart.
Top five holdings include Wells Fargo & Co, Merck & Co, Pfizer, Johnson & Johnson and Chevron.
Over a one year period, the JPM US Equity Income fund returned 28.9% compared with 30% for the UT North America sector as at 5 August.
OLD MUTUAL UK EQUITY FUND
The fifth fund to attract money between the same period is the £197.7 million Old Mutual UK Equity fund, which is managed by Simon Murphy.
Top five holdings in the fund include HSBC, BP, Vodafone, GlaxoSmithKline and Barclays.
Over a one-year period, the Old Mutual UK Equity fund returned 34% compared with 27.6% for the UT UK All Companies sector as at 5 August.
Funds attracting most money in UK and OEICs in July
|FUND NAME||SIZE ONE MONTH AGO (£m)||SIZE NOW (£m)|
|BlackRock CIF UK Equity Tracker||4,695.12||5,933.36|
|Schroder Diversified Growth||4,039.44||4,175.22|
|Baillie Gifford Diversified Growth||3,718.32||3,825.20|
|JPM US Equity Income||1,557.74||1,668.99|
|Old Mutual UK Equity||197.66||275.04|
Source: FE Analytics
This story was written by our sister website Interactive Investor
The general term for the rate of income from an investment expressed as an annual percentage and based on its current market value. For example, if a corporate bond or gilt originally sold at £100 par value with a coupon of 10% is bought for £100 then the coupon and the yield are the same at 10%, or £10. But if an investor buys the bond for £125, its coupon is still 10% (or £10) and the investor receives £10 but as the investor bought the bond for £125 (not £100) the yield on the investment is 8%.
Open-ended investment companies are hybrid investment funds that have some of the features of an investment trust and some of a unit trust. Like an investment trust, an Oeic issues shares but, unlike an investment trust which has a fixed number of shares in issue, like a unit trust, the fund manager of an Oeic can create and redeem (buy back and cancel) shares subject to demand, so new shares are created for investors who want to buy and the Oeic buys back shares from investors who want to sell. Also, Oeic pricing is easier to understand than unit trusts as Oeics only have one price to buy or sell (unit trusts have one price to buy the unit and another lower price when selling it back to the fund).
An interchangeable term for shares (UK) or stocks (US). Holders of equity shares in a company are entitled to the earnings and assets of a company after all the prior charges and demands on the company’s capital (chiefly its debts and liabilities) have been settled. To have equity in any asset is to own a piece of it, so holders of shares in a company effectively own a piece proportionate to the number of shares they hold. (See also Shares).
Generic, loosely-defined term for markets in a newly industrialised or Third World country that is in the process of moving from a closed economy to an open market economy while building accountability within the system. The World Bank recognises 28 countries as emerging markets, including Argentina, Brazil, China, Czech Republic, Egypt, India, Israel, Morocco, Russia and Venezuela. Because these countries carry additional political, economic and currency risks, investors in emerging markets should accept volatile returns. There is potential to make large profit at the risk of large losses.