The latest data from the platform found that sales of Investment Management Association Global Equity Income funds have outstripped the IMA’s Sterling Strategic Bond sector for the first time in years.
According to the data, IMA Global Equity Income became the second most-popular sector in February, with the £3.5bn Newton Global Higher Income the most popular fund in the sector.
Multi-manager and multi-asset funds remained at the top of the tables, with the IMA Mixed Investment 20 per cent-60 per cent Shares sector remaining the most-popular sector in February, accounting for 221 per cent of the proportion of net sales.
Three of the top-20 selling funds on the platform were in this sector – £4.6bn Jupiter Merlin Income Portfolio, £456m HSBC Open Global Distribution and £2.5bn Investec Cautious Managed.
Michelle Woodburn, head of fund group relations for Cofunds, said: “It is interesting to note global equity income saw strong inflows in February, based on 83 per cent of the proportion of net sales.”
| Net Sales February 2013 |
1 | SL Inv Global Absolute Ret Strategy |
2 | Newton Global Higher Income |
3 | Newton Asian Income |
4 | M&G Global Dividend |
5 | Cazenove UK Opportunities |
6 | Liontrust Special Situations |
7 | SEI Moderate |
8 | Jupiter Merlin Income Portfolio |
9 | Invesco Perpetual Distribution |
10 | Jupiter Strategic Bond |
11 | HSBC Open Global Distribution |
12 | First State Gbl Emerging Mkts Lead |
13 | JOHCM UK Equity Income |
14 | Newton Emerging Income |
15 | Investec Cautious Managed |
16 | HSBC American Index |
17 | Trojan Inv Funds Trojan Income |
18 | Fidelity UK Smaller Companies |
19 | Thames River Distribution |
20 | BlackRock European Dynamic |
Brian Dennehy, founder of Kent-based Dennehy Weller, highlighted recent warnings that sovereign bonds were at breaking point. He said: “US economist Nouriel Roubini has already suggested the mother of all asset bubbles, through ramped-up global quantitative easing, is only beginning. This will unfold in the next two to three years, then there will be a huge pop.”
