Investors looked for overseas exposure in November as confusion over the Irish border and wrangling over the UK’s divorce bill dominated Brexit negotiations. Indeed, according to The Share Centre, eight of its 10 most traded funds in November offer global diversification. Read on to find out which funds topped the trades.
Neil Woodford’s (pictured) flagship CF Woodford Equity Income fund was the most traded in November, which was another extremely tough month for the star manager.
During the month, Aviva and Architas announced they were pulling money from the £8.3bn fund. Aviva said it was divesting £30m from its investment range for workplace pension customers, while Architas removed £25m invested via its six multi-asset funds, and a further £9m invested in its £136m UK equity multi-manager fund.
This followed Jupiter’s multi-manager range also pulling approximately £300m from the fund in October.
Woodford Equity Income has been underperforming over a one-year and three-year period with returns of 0.4% and 20.8% respectively, versus the IA UK Equity Income benchmark with 12.6% and 26.2%
Despite Woodford’s woes, The Share Centre announced it was building its position in the fund across its TC Share Centre multi-manager range on the back of Woodford’s sustained confidence in the healthcare, financials and consumer goods sectors.
Sheridan Admans, manager of The Share Centre multi-managed range, said: “We recognise that all fund managers are at risk of having some blow-ups in the portfolios over time and Neil is not immune to this.
“Nevertheless, Neil’s approach is tried and tested and the fund has outperformed its FTSE All Share benchmark since inception, with lower drawdown and downside risk.”