Investment into cash and money market funds more than doubled in the third quarter amid stock market volatility, according to the latest sales trends on Skandia.
Sales into cash and money markets funds increased 121% during the quarter, making it the third-highest selling sector on the platform, as investors sought a safe haven from stock market volatility. Skandia said investment into these funds on the platform has now shot up to its highest level since the first quarter of 2009. But despite the dash to cash, Skandia investment expert Graham Bentley pointed out the sector only accounts for around 13% of platform sales - indicating the majority of clients are investing in well balanced portfolios. "These investors will be taking advantage ...
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