The Cautious Managed sector’s dominance was such that it contains five of the top 10 selling funds on the platform. Aberdeen Multi-Manager Cautious Managed was the most popular offering, followed by the Jupiter Merlin Income Portfolio.
Strategic bonds, meanwhile, accounted for a 12% share of net sales. By contrast, corporate bonds accounted for an outflow of 6%. There was better news, however, for UK Equity Income, Cofunds said.
“Advisers continued to favour Cautious Managed in May, with half of the top 10 selling funds in this sector. Global Growth also had a popular month, remaining in third position with 9% of net sales,” said Michelle Woodburn, manager, fund group relations at Cofunds.
“The outflows from UK Equity Income funds continued to slow down, leaving the sector in a net positive position for the month of May, accounting for 5% of net sales.”
