The Cautious Managed sector held on to its dominant sales position on Cofunds for January, but property continued to be the fastest-growing sector.
Cautious Managed accounted for almost a third of net sales but property increased at the fastest rate to grab a 9% share. Corporate Bond was the second biggest seller.
Two property funds, M&G Property Portfolio and SWIP Property, featured in the top 20 selling funds and a further two made it into the top 50.
"It continues to be a positive story for the Property sector which accounted for almost 9%, a great result for a sector that is traditionally a non core holding," says Michelle Woodburn, Cofunds business development manager - fund managers.
Despite Cautious Managed holding onto pole position, Woodburn thinks the sector may have peaked.
"With 30% of net sales, the Cautious Managed sector is still top but when compared to December the figures are very similar," she says. "This suggests the sector is plateauing out."
She says although the Corporate Bond sector's share of net sales has fallen, there were rises for Strategic Bond and High Yield Bond. M&G Optimal Income grabbed 9th spot and Henderson Strategic Bond was 20th.
"The IMA has also seen this shift, so bonds are not out of favour - but there has been a shift to more high risk funds and a flight to quality names," adds Woodburn.
Cofunds January 2010 Net Sales
- Henderson Multi Manager Income & Growth
- Thames River Distribution
- Thames River Cautious Managed
- M&G Recovery
- Jupiter Merlin Income Portfolio
- SWIP Multi-Manager Diversity
- Invesco Perpetual Monthly Income
- Artemis Income
- M&G Optimal Income
- Newton Global Higher Income
- M&G Property Portfolio
- Henderson Multi Manager Growth
- SWIP Property
- Standard Life Investments Global Absolute Return Strategy
- First State Asia Pacific Leaders
- Neptune Income
- M&G Global Basics
- Invesco Perpetual High Income
- Neptune US Opportunities
- Henderson Strategic Bond
Market anticipates a May hike
Newly-formed Mobius Capital Partners
Failed to meet yield requirments
Almost tripled year-on-year
Stochastic modelling for decumulation