The Cautious Managed sector was the top seller on Cofunds in April whilst UK All Companies saw a net outflow as the uncertain political situation weighed heavily on investor sentiment.
Cautious Managed accounted for 28% of net sales for the month through the platform - maintaining its strong recent showing although slightly down on the Q1 figure of 33%.
Henderson Multi-Manager Income & Growth was top of the fund chart and Aberdeen Multi-Manager Cautious Managed also grabbed a top 20 position.
However, UK All Companies, once the bedrock of client portfolios, saw net outflows of 0.28% for the month. For the year to date sales were down 0.6% and in Q1 as a whole the sector only took 2% of net sales and 7% of gross sales.
"It is very rare for UK All Companies to be in net outflow but this perhaps reflects uncertainty over the UK election," says Cofunds manager of fund group relations Michelle Woodburn.
The Strategic Bond sector continued to gain strength and was the second highest seller after Cautious Managed, with 13% of net sales in April.
Corporate Bond had net sales of 1.96% but on a year-to-date basis was in net outflow, confirming the shift away from the sector into Strategic Bond.
The wider market uplift to the Global Bonds sector was not replicated on Cofunds, with net sales only 2.43%, but Woodburn said Strategic Bond investors gained global exposure due to the diverse nature of the sector.
Property, meanwhile, continued to drop off, down from 9% of net sales in the first quarter to 6.8% in April as advisers looked to diversify client holdings in the face of an uncertain property market where house prices are expected to fall. Only three property funds feature in the top 50 which is down from five in Q1.
Global Growth was third highest selling sector on Cofunds, accounting for 8% of net sales, with Newton Global Higher Income and M&G Global Basics featuring in the top 20.
The stellar showing by Global Growth - with net sales of 7.6% for the month - could be explained by net outflows from the European sectors as concern grew about contagion from the Greek debt crisis.
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