The two money market sectors lead the charts in terms of adviser sales in June according to the latest FundsNetwork data, with the Fidelity Cash and the BlackRock Cash appearing in the bestsellers list.

Fixed income funds also saw a spike in popularity, with the Sterling Corporate Bond sector, the third most popular peer group in the month.

Indeed the five top selling sectors for the month were all money market and bond related, with Japan – in sixth place – the most popular equity sector. Alongside Japan, the Global Emerging Markets sector was the only other pure equity sector that made the top 10, with Targeted Absolute Return – in which underlying funds invest in a mix of assets – coming in at 10th.

Danny Wynn, head of fund partners for Fidelity International, said: ““With uncertainty gripping investor sentiment leading up to and following the Brexit vote, we unsurprisingly saw investors taking risk off the table by either seeking the relative safety offered by bonds or temporarily sheltering their money in cash instruments.

“With nobody exactly sure what is going to happen next and further uncertainty on the cards, we expect to see investors maintain a relatively cautious approach in the coming months, with advisers and their clients likely to continue to diversify across geographical regions and asset classes.”

The most popular individual fund purchased by advisers and through an ISA was Terry Smith’s Fundsmith Equity fund.