The Mixed Investment 20-60% Shares sector has regained the top spot as the best selling sector on Cofunds in October.
The sector regained its top spot after being overtaken by strategic bonds in September. Prior to this it was the best selling sector for the previous 37 months.
The £3.9bn Jupiter Merlin Income fund, managed by John Chatfeild Roberts, was the best selling fund on the platform in October. The fund, which sits in the Mixed Investment 20-60 per cent Shares sector, has returned 26 per cent in the past three years compared to a sector average of 17.4 per cent.
Five of the top 20 best sellers came from the Mixed Investments 20-60% shares sector. In addition to the Jupiter Merlin Income fund, they include the £1.8bn Invesco Perpetual Distribution, £411m Open Global Distribution, £921m Cazenove Multi-Manager Diversity and £116m Premier Multi-Asset Distribution funds.
The Invesco Perpetual Distribution fund, which is managed by Neil Woodford, Paul Causer and Paul Read, was the second best selling fund on the platform, behind the Jupiter fund.
Cofunds head of fund group relations Michelle Woodburn says: “It is not a huge surprise to see the Mixed Investments 20-60 per cent shares sector back at the top of the list of best sellers, as there is a big demand for these types of product in volatile markets.”
Skerritt Consultants head of investments Andy Merricks says: “It is a very big sector with a number of well know multi-manager, multi-asset funds which are in demand.”