Cash proved to be the most popular safe haven from the freefalling markets this year, with two cash vehicles among the top five highest selling investments on Fidelity FundsNetwork in 2008.
A shift away from the market mayhem ensured the Fidelity Cash fund was the third best selling fund across the entire platform, while the Fidelity FundsNetwork ISA Cash Park ended the year at number five.
Cash was most popular for ISA and SIPP investors, with the Cash Park leading ISA sales and the Cash fund topping the SIPP table.
Neil Woodford's Invesco Perpetual High Income fund ended 2008 as the highest selling fund on the platform, ahead of Mark Lyttleton's BlackRock UK Absolute Alpha and the Jupiter Merlin Income Portfolio in fourth.
Invesco Perpetual proved to be the most popular fund house over the past year, with four vehicles in the top 10.
Cautious Managed was the best selling IMA sector, ahead of the Specialist and UK All Companies categories.
However, FundsNetwork noted a late surge into income products, a theme the platform expects to continue into 2009.
"Investor demand across the year can be broken down into three camps," Fidelity FundsNetwork head David Dalton-Brown says.
"First came the risk averse. As markets embarked on their wild ride, they sought cautious managed products, cash funds and the FundsNetwork ISA Cash Park.
"Secondly, there was demand for more aggressive, higher alpha products that could take advantage of low asset prices - even in natural resources and property.
"Lastly, and this trend only emerged towards the end of the year, was the search for income. Savers battered by plummeting interest rates have clearly been considering taking on greater risk in order to achieve the desired level of income."IFAonline
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