UK Money Market funds swung back in favour in May as investors looked to shelter money amid the ongoing eurozone debt crisis, according to figures from FundsNetwork.
Income funds dominated sales on FundsNetwork last month, with Fidelity MoneyBuilder Income top of the sales chart and Invesco Perpetual High Income, M&G Optimal Income and Jupiter Merlin Income Portfolio all featuring in the top five.
The UK Money Market sector returned to the top ten sector chart to grab eighth spot, with UK Corporate Bond, UK Equity Income and UK Strategic Bond in second, third and fourth positions respectively.
Mixed Investment 20-60% Shares was the best-selling sector.
"With the market turbulence and the uncertainty that has surrounded the Eurozone and Greece, it is unsurprising that the Money Market sector crept back into the top ten sector sales last month," said FundsNetwork head of marketing Klare Baldwin.
Top 10 IFA sales via FundsNetwork:
1 Fidelity MoneyBuilder Income Fund
2 Invesco Perpetual High Income
3 Fidelity Strategic Bond Fund
4 M&G Optimal Income Fund
5 Jupiter Merlin Income Portfolio
6 Invesco Perpetual Distribution
7 Cazenove Multi-Manager Diversity
8 M&G Strategic Corporate Bond Fund
9 Newton Global Higher Income Fund
10 Standard Life Global Absolute Return Strategy
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