The Targeted Absolute Return sector was the best-selling IMA sector in May, with £255 million in net retail sales, well above its average figure for the year.
Figures released by the IMA this month show sales in the sector were well above their six-month average of £97m.
The figures come after an overhaul of the sector which was renamed from Absolute Return in February.
Despite criticisms of funds in the sector - some of which have failed to meet expectations - the sector has proved particularly popular recently as investor seek to protect gains made earlier in the year.
Mixed Investment 20-60% Shares sector was the second best-selling sector, with net retail sales of £231m, with the £ Strategic Bond sector the third best, with sales of £222m.
Overall net retail sales came in at £2.1bn, up from £1.3bn the previous year.
"After the ISA season months of March and April we usually see a sizeable drop in fund net retail sales but they remained strong in May this year at £2.1 billion with investors making significant net investments across all the main asset classes," Daniel Godfrey (pictured), IMA chief executive said.
The IMA's monthly report also revealed that equity was the best-selling asset class, with net retail sales of £781m, in comparison with an outflow in May 2012 of £50m.
"Equity funds received the biggest slice of investors' funds with global equity income and global emerging markets the two equity sectors making it into the top five best-selling IMA sectors" Godfrey said.
Mixed Asset funds saw retail sales of £386m in May, and fixed income had net retail sales of £282m in May 2013, compared to £825m this time last year.
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