The Cautious Managed sector has topped the IMA's best retail sales chart in April for the first time since November 2007.
Net retail sales for the sector were £406m for the month with the second most popular £ Strategic Bond, followed by Unclassified, Property and Global Bonds.
As global stock markets continue to fall on concerns about the stability of the eurozone, retail investors are avoiding pure equity sectors which do not feature in the top five bestsellers.
North America is the highest ranking equity sector at number six. Meanwhile UK All Companies suffered the highest outflows to be the worst IMA sector for net sales.
Total net retail sales across sectors stood at £2.3bn in April, an increase on the £2.1bn recorded last year. Net ISA sales hit £1.2bn for the month, which was the highest ISA sales figure for any month in nine years.
Overall, bonds were the biggest selling asset class, with £629m of net retail sales (27%). The impact of market turmoil was again evident as equity sales were the lowest they have been in 12 months at £412m or 18%. Balanced funds saw a net inflow of £434m.
Funds under management stood at £510.9bn at the end of April 2010, the highest monthly figure ever recorded and up 36% on a year ago.
In a first for the trade body, the IMA has published figures on platform sales which show they accounted for 37% of gross retail sales year to date. Other intermediaries such as stockbrokers account for 51%, while direct sales are 12%.
However, the five biggest platforms account for the lion's share of ISA sales this year. Of the £6.1bn raised though ISAs in 2010, Cofunds, FundsNetwork, Hargreaves Lansdown, Skandia and Transact took 56%.
Personal pensions account for around a quarter of platform sales year-to-date, with insurance bonds on 8% and unwarpped funds totalling 36%.
Finally, in the first year the IMA has listed offshore funds under its sector classifications, overseas-domiciled funds saw net retail sales of £211m in April, around 10% of the total and up from £171m a year ago.
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