Five of the top 20 funds in terms of sales during the month sit in the sector, which replaced the old cautious managed sector, with the Cazenove Multi-Manager Diversity Fund run by Marcus Brookes and Robin McDonald topping the sales table for Mixed Investment 20-60% Shares funds.
Strategic Bonds remained the second most popular sector, accounting for 22% of net sales on Cofunds, with M&G’s Optimal Income Fund run by Richard Woolnough bagging the top overall sales spot.
M&G also placed in the highest-selling table for its Strategic Corporate Bond and Corporate Bond funds, ranked fifth and 16th respectively.
This was despite an overall drop in sales of corporate bond funds, with the sector only accounting for 5% of net sales compared to a 9% year-to-date average.
Michelle Woodburn, head of fund group relations at Co-funds, said: "It is not surprising to see that Mixed Investment 20-60% Shares continued to reign in May as this popularity is broadly in line with the sector’s market share for 2012 overall.
"Interestingly though, global funds also attracted high levels of net sales last month, with Global Equity Income, Global and Global Emerging Markets accounting for 10%, 7% and 4% of net sales respectively."