Income funds dominated FundsNetwork’s top 10 adviser sales during October, with the Fidelity MoneyBuilder Income fund, coming out on top once again.
The £3.2bn fund, managed by Ian Spreadbury (pictured), topped the fund sales list once again and was joined at the top by John Chatfeild-Roberts’s Jupiter Merlin Income Portfolio.
Top 10 adviser sales
1. Fidelity MoneyBuilder Income Fund
2. Jupiter Merlin Income Portfolio
3. Fidelity Strategic Bond
4. Invesco Perpetual High Income
5. Fidelity Multi Asset Strategic
6. M&G Optimal Income
7. Invesco Perpetual Distribution
8. Invesco Perpetual Monthly Income Plus
9. Newton Global Higher Income
10. M&G Global Dividend
There was little change between September and October in the top five funds, with the exception of the Invesco Perpetual Distribution fund dropping from fifth place to seventh, replaced by the Fidelity Multi Asset Strategic fund
The most popular sector in October was the IMA Mixed Investment 20-60% Shares sector, while the IMA £ Strategic Bond and IMA £ Corporate Bond sectors came in second and third, respectively.
Top 10 adviser sales by sector
1. Mixed Investment 20-60% Shares
2. £ Strategic Bond
3. £ Corporate Bond
4. UK Equity Income
5. UK All Companies
7. Asia Pacific Excluding Japan
8. North America
9. Mixed Investment 40-85% Shares
10. Global Equity Income
The IMA UK Equity Income sector was fourth-placed, while the IMA UK All Companies sector, which the IMA reports saw outflows during October, was the fifth-most popular sector.
Deputy head of FundsNetwork Paul Richards says: “This month it appears that absolute return funds have fallen out of favour, as they dropped out of both the top ten sales and top ten sector list.
“Instead, we are seeing an increase in the use of multi asset and mixed investment funds to help advised clients maximise diversification.”