- Global and US stock markets remain very popular amongst SIPP and SIPP Income Drawdown investors
- The only appearance of any funds outside of the stock market were for SIPP Income Drawdown investors, where income from bonds continues to appeal
- Jupiter India continues to see inflows
Hal Cook, senior investment analysis, Hargreaves Lansdown:
“Markets pivoted in July, with the huge US tech companies taking a hit, and smaller companies seeing some sharp rises. This has continued so far in August, with many of the Magnificent 7 seeing large share price drops in short order, causing wider stock market falls. With interest rate cuts seemingly closer than ever in the US (as well as the European Central Bank having cut in June and the Bank of England cutting on 1 August), bonds also provided positive performance.
The US stock market continues to dominate flows, however economic data there does seem to be getting worse. We are coming to the end of quarterly reporting season in the US and earnings from the big tech companies that have driven most of the recent gains have been either as expected or a bit lower. Guidance to future earnings has been pulled back a bit. This information has arrived at the same time as weak new jobs data for the US, which has caused concern amongst investors. There have been big moves in Japan, particularly in their currency, with an interest rate rise there causing markets to rethink their exposures a little.
Despite this, SIPP investors continue to take a long-term view and buy funds focused on shares. The most popular funds were trackers, continuing the ongoing trend for low-cost, broad market exposure. In among these were Fundsmith and Rathbone Global Opportunities, two funds that have been popular with investors for many years. Jupiter India also makes the list again, with the Indian stock market continuing its upward march, driven largely by increased stock market investing by domestic Indian investors. For SIPP Income Drawdown investors, it’s no surprise that some income funds also made the list. This includes two bond funds (Artemis High Income and Man GLG Sterling Corporate Bond) alongside some equity income funds (Artemis Income, Artemis Global Income and Jupiter Asian Income).”
HL data
Top Funds bought in SIPP, July 2024 (net buys, HL clients)
Legal & General US Index
Legal & General International Index Trust
Fundsmith Equity
Legal & General Global Technology Index Trust
Rathbone Global Opportunities
Fidelity Index World
Jupiter India
Lindsell Train Global Equity
UBS S&P 500 Index
Vanguard LifeStrategy 100%
| *All HL funds have been removed from this list |
Top Funds bought in SIPP drawdown, July 2024 (net buys, HL clients)
Jupiter India
Legal & General Global Technology Index Trust
Legal & General Global 100 Index
Fidelity Index World
Artemis Income
Artemis High Income
Legal & General International Index Trust
Artemis Global Income
Jupiter Asian Income
Man GLG Sterling Corporate Bond
*All HL funds have been removed from this list
Top Funds bought in JSIPP, July 2024 (net buys, HL clients)
Legal & General International Index Trust
Lindsell Train Global Equity
Vanguard LifeStrategy 100% Equity
Fundsmith Equity
Legal & General US Index
Fidelity Index World
Rathbone Global Opportunities
Legal & General UK Index
Legal & General Global Technology Index Trust
JPMorgan Emerging Markets
*All HL funds have been removed from this list
