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Safe havens dominate Cofunds sales

Cofunds says September saw the biggest shift away from cautious managed funds for the past 12 months as advisers look to bonds and gilts as safe havens for investors money.

Cautious managed topped sales for the fifth consecutive quarter with 22 per cent and combined with money market and absolute return funds accounted for over half of all sales in Q3.

Money market funds entered the top 10 best-selling individual funds on the platform in 2008 with Smith & Williamson cash fund usurping BlackRock UK absolute alpha as the top-selling fund in September, the first time Mark Lyttelton’s fund has been not knocked off top-spot for monthly sales this year.

Cofunds head of fund manager relationships Russell Lancaster says: “With BlackRock there have been some performance wobbles I think there and there have been some issues around shorting – people have moved out of the fund as they have done in absolute return funds generally in the last 30 – 60 days.”

Despite a shift away from cautious managed in September, the sector’s success has seen it overtake equity income as the most popular for AUA.


Top 10 funds for net sales in Q3

1. BlackRock UK absolute alpha
2. M&G global basics fund
3. Invesco Perpetual monthly income plus
4. Bestinvest growth portfolio
5. M&G recovery fund
6. Insight diversified target return fund
7. Invesco Perpetual corporate bond fund
8. Smith & Williamson cash fund
9. Bestinvest income and growth portfolio
10. Newton growth and higher income

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