Cofunds reveals most popular funds in July
M&G Optimal Income was the biggest selling fund in July, according to the latest figures from Cofunds.
The £8.6bn fund, which is managed by Richard Woolnough (pictured), beat the £3.6bn Jupiter Merlin Income portfolio and £3.4bn M&G Global Dividend funds, which were second and third respectively.
Other funds in the top 20 bestsellers included the likes of the £5.4bn M&G Strategic Corporate bond fund, £2.3bn Newton Asian Income and the £11.7bn Standard Life GARS fund.
The mixed investment 20-60% shares sector was the most popular with advisers in July, while UK equity income, UK all companies, Europe excluding-UK and specialist sectors all saw outflows last month.
Strategic bonds, global equity income and corporate bonds also saw high net retail sales with nine out of the top 10 selling funds on the platform coming from these sectors.
Cofunds head of fund group relations Michelle Woodburn says: “While mixed investment 20-60% share boomed in July, overall it proved to be a volatile month with many sectors seeing mass outflows. However, the sectors that followed this trend have been out of favour all year so it does not come as a surprise.
“North America has continued to do well following its increased sales position that began in the second quarter. Axa Framlington American Core Growth led the charge in 24th place, with a further four American funds falling inside the top 50.”
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