Mixed investment sector tops Cofunds sales for 11th quarter
The IMA Mixed Investment 20-60% Shares sector topped the Cofunds retail sales leaderboard for the 11th consecutive quarter during the second quarter of 2012, the platform has revealed.
The sector accounted for a 42 per cent share of net retail sales in the second quarter of the year, with half of the top 10 selling funds residing in this sector.
Top 10 selling funds for Q2
Cazenove MM Diversity
M&G Optimal Income
Jupiter Merlin Income Portfolio
Newton Global Higher Income
Standard Life Investments Global Absolute Ret Strategy
M&G Global Dividend
M&G Strategic Corporate Bond
Invesco Perpetual Distribution
HSBC Open Global Distribution
Premier Multi-Asset Distribution
According to Cofunds, around 50 per cent of net sales during the second quarter were invested in managed funds, a slight fall than the first quarter of the year. The IMA Mixed Investment 20-60% Shares and IMA Mixed Investment 40-85% Shares sectors accounted for 10 per cent of sales.
Cofunds head of fund group relations Michelle Woodburn says: “While Mixed 20-60% Shares continue to top the leaderboards, income remained a key theme overall in the second quarter.
“Nine of the top 10 selling funds were designed to generate income for clients, with the trend apparent across various IMA sectors including Managed Investment 20-60% Shares, Global Growth, Corporate Bond and Strategic Bond.”
She adds: “Global funds remained popular with the Global and Global Equity Income sectors attracting 6 per cent and 9 per cent of net sales respectively. Global Emerging Markets saw strong flows of 5 per cent market share, down from 8 per cent last quarter, with First State leading the way. Asia Pacific accounted for 4 per cent of net sales.”
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