The IMA cautious managed sector ended 2011 as the highest selling sector, according to the latest industry figures from fund supermarket Cofunds.
Three of the top five selling funds on the platform in December were from the cautious managed sector, which attracted 48 per cent of net sales.
However, the most popular fund in December was Richard Woolnough’s M&G Optimal Income fund in the strategic bond sector, which attracted 14 per cent of net sales overall.
Investors were meanwhile increasingly dissuaded from equity sectors, as ongoing volatility continued.
Cofunds manager of fund group relations Michelle Woodburn says: “Equity sales however, did not finish the year strongly. Europe (-7 per cent), UK all companies (-5 per cent), UK equity income (-5 per cent), specialist (-2 per cent) and UK smaller companies (-1.4 per cent) were all in net outflow.
“While the UK all companies and UK Equity Income sectors both brought in reasonable levels of new business, their net position was dragged down last month by high redemptions.”