The products topped the sector inflows list for the third month in succession taking in £150.3m of assets, down from the £214m taken in July.
Property funds again saw netail retail outflows, losing £42.4m, while the Europe ex-UK sector was the biggest faller with £143m of outflows.
Net retail sales reached £90m, down from £741.1m taken in 12 months ago. This was largely driven off the back of absolute return funds, while equity funds saw an outflow of £344m.
Funds under management of UK domiciled fund were up 3 per cent from the previous month to £426.5bn, but down 7 per cent from 12 months ago.
IMA chief executive Richard Saunders says: “August’s figures are an improvement on the retail outflow in July, albeit a modest one. Investor sentiment remains cautious during this time of volatility with Absolute Return funds continuing to be the most popular sector.”