Corporate bond funds remained at the top of the best seller list in August, with Cautious Managed in second place, according to the latest sales figures from Cofunds.
The platform says corporate bond funds held their position despite a slide in both net and gross sales. M&G’s Strategic Bond fund knocked its own Corporate Bond offering off the top spot last month and into third place. Henderson Multi Manager Income & Growth climbed to second place, while Jupiter Financial Opportunities entered the top five in fourth position.
Other popular funds were absolute return, Japan, North America, property, specialist and UK all companies, all of which gained momentum in August, Cofunds says.
Michelle Woodburn, the business development manager, says that corporate bonds have lost a little of their former popularity, although still accounting for the biggest sector sales. Meanwhile, money market funds and Europe funds continued to see outflows, as advisers opted for UK All Companies and emerging markets funds in their place, she adds.