Investors more positive on UK funds
However, despite this more positive sentiment, money still exited the sector, with UK funds seeing net outflows.
Mixed Investment 20-60% shares remained the most favourable sector last month, and accounted for 231% of the proportion of net sales.
Four of the top 20 selling funds on the platform were in the sector, including Invesco Perpetual Distribution, Henderson Cautious Managed, Jupiter Merlin Income Portfolio and HSBC Open Global Distribution.
Michelle Woodburn, head of fund group relations at Cofunds, said: “Despite another volatile month for UK equities, with good gains followed by a correction towards the end of the month, UK sectors proved popular with advisers and their clients, with four funds listed in the top 20. It’s also notable that Mixed Investment 20-60% Shares continued its reign as the most favourable sector.”
Net Sales May 2013
1 SL Inv Global Absolute Ret Strategy