UK funds blossomed in May as, despite UK sectors seeing outflows, four were placed in the top 20 overall selling funds, according to figures from platform Cofunds.
Mixed Investment 20-60% Shares remained the most favourable sector in May, accounting for 231% of the proportion of net sales.
Four of the top 20 selling funds on the platform were also in the sector, including Invesco Perpetual Distribution, Henderson Cautious Managed, Jupiter Merlin Income Portfolio and HSBC Open Global DSave and publishistribution (see table below).
Cofunds head of fund group relations Michelle Woodburn said: "The Standard Life Investments Global Absolute Return Strategy fund took the top spot in May as absolute return remained a key theme as advisers continue to seek outperformance in all market conditions.
"In addition, despite another volatile month for UK equities, with good gains followed by a correction towards the end of the month, UK sectors proved popular with advisers and their clients, with four funds listed in the top 20.
"It's also notable that Mixed Investment 20-60% Shares continued its reign as the most favourable sector."
Net Sales May 2013
1 SL Inv Global Absolute Ret Strategy
2 M&G Global Dividend
3 First State Gbl Emerging Mkts Lead
4 Invesco Perpetual Distribution
5 Henderson Cautious Managed
6 Cazenove UK Opportunities
7 Jupiter Merlin Income Portfolio
8 Newton Asian Income
9 Newton Global Higher Income
10 HSBC Open Global Distribution
11 Threadneedle UK Equity Income
12 Liontrust Special Situations
13 Jupiter Strategic Bond
14 F&C MM Navigator Distribution
15 Cazenove UK Smaller Companies
16 Premier Multi-Asset Distribution
17 M&G Optimal Income
18 JPM US Equity Income
19 Kames Sterling Corporate Bond
20 SEI Moderate
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