Cautious Managed funds accounted for 30% of net sales on Cofunds in July, making it the popular peer group among advisers.
However, despite the sectors continued popularity, the sector did see a drop in net sales compared with last month’s total of 36%.
Michelle Woodburn, manager, group fund relations at Cofunds, says the drop in sales in Cautious Managed funds suggest that redemption levels have grown as advisers look to other types of funds and sectors.
Indeed corporate Bond funds accounted for 6% of net sales in July, up from an average of 2% over the last two months. (article continues below)
The Henderson Multi Manager Income & Growth fund was the top seller in July, followed by the SL Investment Global Absolute Return Strategy and Thames River Distribution funds.