In the second quarter of last year cash and money market funds accounted for 12.19% of sales via the Skandia Investment Solutions platform, but now account for just 5.83%.
According to the platform while UK fixed interest funds remain the biggest selling sector, sales levels have remained broadly flat over the past year. UK equity funds have picked up some of the sales lost by cash funds, increasing in popularity by 17% to take second spot. Aided in part by growth in demand for gold and resources, the third most popular sector on the Skandia platform is Specialist, Graham Bentley, Skandia’s investment expert, says.
Although sentiment towards Japan has improved, sales figures for the sector remain at the bottom of Skandia’s table.
Shorter-term sales data from Cofunds on the other hand highlights continued growth in the Cautious Managed sector, accounting for 32% of net sales in June. Six of the platform’s top 10 best selling sectors last month were all Cautious Managed portfolios although the top seller, Newton Real Return, was an absolute return portfolio.
Michelle Woodburn, manager, fund group relations at Cofunds says: “Global funds also experienced a healthy level of adviser interest last month as the third highest selling sector. Asian and Emerging Markets funds proved popular, as were Global income generating funds like Newton Global Higher Income and M&G Global Dividend.”
