The Cazenove portfolio, launched in July, was selected by four advisers, making it the eighth most popular fund in the Aggressive index, in terms of aggregated weighting.
This was a significant vote of confidence, taking UK Absolute Target two places ahead of BlackRock UK Abs-olute Alpha.
The overall weighting of the BlackRock fund, which employs similar strategies to UK Absolute Target, fell by over 1 per cent, as two panellists removed it from their Aggressive selections. However, three continue to hold the fund in their portfolios.
The highest-ranked fund ejected from the index was Artemis European Growth.
Just 12 months ago, the £860m portfolio was the third most popular Aggressive index constituent with six selections. However, its popularity waned earlier this year, and four advisers removed the fund in May.
The ejection of the fund contributed to a 1 per cent fall in the overall continental European weighting in the Aggressive index, from 12 per cent to 11 per cent.
The most popular continental European fund in the index – Schroder European Alpha Plus – saw its weighting inc-rease by almost 1 per cent.
Panellists used the cuts in the British and continental European allocations in order to increase their exposure to Asia Pacific and North American equities, by two and one percentage points respectively.
As a result of the shift towards Asia, First State Asia Pacific leaders rose from second place to first in the popularity table.
The move even allowed First State to claim the crown of most popular product provider in the Aggressive index.
M&G fell from first place to third, as the weighting in its Global Basics portfolio fell by almost 1 per cent. However, the fund was removed by just one panellist and maintained a broad level of support.
Japan in particular appeared to command greater appeal, as Aberdeen Asia Pacific & Japan, Neptune Japan Opportunities and Schroder Tokyo joined the index.
The weighting to SG Japan CoreAlpha almost doubled, taking it to second place in popularity terms. Seven panellists chose the fund this month, compared with five in May, and Société Générale Asset Management moved to fourth most popular provider in the index.
However, the biggest allocation increase in the Aggressive index was in fixed interest. The bond weighting rose from 4 per cent to 7 per cent, as Cazenove UK Corporate Bond, City Financial Strategic Gilt and M&G Strategic Corporate Bond joined the index.