March's 10 most-bought funds

March was a month of continuing, if modest, upward momentum, as the FTSE 100 index swung from a low of 6,036 to a peak of almost 6,200, which has apparently tempted some investors to look for new buying opportunities.

Neil Woodford's first eponymous open-ended fund, CF Woodford Equity Income, has taken the top position once again among the most-bought funds on the Interactive Investor platform this March.

The popular fund has been leading the list since its launch in June 2014 and was only toppled once - last month - by Fundsmith Equity, one of our sister magazine Money Observer's prestigious Rated Funds - which has now been pushed into second place.

Fundsmith Equity has over half of its assets in US equities and it is managed by contrarian investor Terry Smith. The global equity fund has returned 16.2% over one year and 6.7% over three months to 1 April.

Passive funds fall back

Another Money Observer Rated Fund, Artemis Global Income saw the biggest single jump, rising by 14 places from 18th place in February to fourth in March. Fellow Rated Fund Lindsell Train Global Equity climbed from 11th place in February to eighth place in March.

Passive funds, which dominated last month's top 10 most-bought list, have lost some but not all of their shine. Out of the five Vanguard index trackers which featured on the March list, only one remains.

Vanguard LifeStrategy 80% Equity, which focuses on North American, UK and European ex UK equities, as well as global bonds, has held on to the list's third place.

In addition, HSBC FTSE 250 Index has climbed four places from ninth in February to fifth place in March, and HSBC FTSE All Share Index went up three places from thirteenth to 10th spot.

BlackRock Gold & General dropped nine places from eighth in February to take the 17th place in March, as the overall price of gold fell by 4.6% from its recent high on 10 March to 1 April.

Co-managed by Evy Hambro and Tom Holl, the fund invests in shares of companies which derive a significant proportion of their income from gold mining and precious metals.

In the meantime, Axa Framlington Biotech, another Money Observer Rated Fund, has gone up six spots from 12th in February to sixth place in March.

Managed by Linden Thomson, this fund has struggled over the last three months, as it lost 21.9%. Over the last month it shed 4.1%. It is worth noting, however, that the specialist fund has gained an astonishing 175% over the last five years.

Smaller and mid-cap funds crowded into the spots just outside the top 10. Marlborough UK Micro Cap Growth and Neptune UK Mid Cap took the 15th and 18th places respectively, while Fidelity UK Smaller Companies took the 19th place.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.