Cash was king as investors ran for cover amid Brexit triggering

Fidelity’s platform FundsNetwork has reported “strong demand” for funds in the Short Term Money Market and UK Money Market sectors of ‘cash funds’.

The sectors climbed to second and fourth place in the sales leagues in March, the platform has revealed today.

The firm’s Fidelity Cash fund was the best-selling product on the platform last Month.

FundsNetwork head of sales Paul Richards said investors focused on “defensive assets” in general, including multi-asset funds.

“With Theresa May announcing a snap general election this month as well as the French elections on the near horizon, there continues to be no shortage of political risks for investors to navigate through this year,” he said.

“With this in mind, it’s likely that we will continue to see increased demand for defensive assets throughout the remainder of this year.”

Top 10 adviser sales by fund via FundsNetwork

1. 1. Fidelity Cash
   2. CF Lindsell Train UK Equity Fund
   3. Vanguard LifeStrategy 60% Equity
   4. Fundsmith Equity Fund
   5. Evenlode Income
   6. Vanguard LifeStrategy 40% Equity
   7. Artemis Monthly Distribution
   8. CF Woodford Income Focus Fund
   9. Schroder Asian Alpha Plus Fund
   10. Vanguard LifeStrategy 80% Equity