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FundsNetwork Sipp investors flock to cash

The UK money market was the popular sector for Fidelity FundsNetwork Sipp investors over the last tax year.

Its end of tax year figures show Sipp investors have flocked toward cash and low risk funds.

Specialist, UK all companies, and equity income fund sectors followed suit among the most favoured investment sectors.

Invesco Perpetual’s High Income fund, Fidelity’s MoneyBuilder Income fund, BlackRock’s UK Absolute Alpha fund and Invesco Perpetual’s corporate bond received top five fund finishes. Fidelity’s Cash fund claimed first place.

Fidelity FundsNetwork head of sales and marketing Rob Fisher says: “It seems clear from end of tax year results for the FundsNetwork Sipp that in general cash is king right now. We put that down to current market sentiment as well as the fact that people are choosing to put cash on deposit because of unusually high rates available.”

“The general interest in cash and lower risk funds is an echo of what we’ve seen with Isa sales. That said, however, for both the Sipp and the Isa, there is still evidence of interest at the opposite end of the risk spectrum – for example emerging market funds and specialist commodity funds are also seeing inflows.”

Top ten funds also included New Star’s International Property fund Oeic, Fidelity’s MoneyBuilder UK Index fund and M&G’s Recovery fund. Also in the top ten was JPM’s Natural Resources fund and the Allianz RCM Bric Stars fund.

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