Sales of bond funds continue to soar, according to quarterly numbers from Cofunds. After record inflows in the fourth quarter of 2008, the funds platform said that more than 50% of net sales in the first quarter of this year went into bond funds.
Corporate bond funds once again dominated the top sellers, with Richard Woolnough’s M&G Corporate Bond topping the table. Woolnough’s M&G Strategic Corporate Bond was the third best seller, while his Optimal Income fund came in at sixth.
Another group dominating the top sellers was Invesco Perpetual. It had three funds in the top five sellers, with the Invesco Corporate Bond fund, managed by Paul Read and Paul Causer, highest placed in second. Neil Woodford’s High Income and Income funds completed the set, ranked fourth and fifth respectively.
The second most popular peer group after corporate bonds was the newly created UK Equity Income and Growth sector.
Corporate bonds stay top