Skandia platform cash funds sales double

Investment into cash and money market funds more than doubled in the third quarter of the year on Skandia’s platform to make up around 12.7 per cent of  sales.

The increase in sales of 121 per cent into cash funds on the Skandia Investment Solutions platform made the sector the third highest selling during the third quarter.

Sales into UK fixed interest funds increased slightly by 1.8 per cent keeping it the highest selling sector at 24.5 per cent.

UK equity funds remain in second place at 18.7 per cent but sales dropped by 10 per cent compared to the previous quarter. 

All equity sectors bar Japan saw decreases in sales levels during the quarter.