Investors on the 7IM platform reduced the level of risk in their portfolio during the three months to the end of June, data released by the firm showed.
According to 7IM, the most popular open ended funds were balanced and "moderately adventurous" funds run by the firm.
The next most bought open-ended fund was the £2bn Royal London UK Equity Income fund, managed by Martin Cholwill.
The best selling ETF was a product that buys physical gold, which is viewed by many as a safe haven.
But Simon Edelsten, who runs the £190m Mid Wynd investment trust, has long maintained that Japanese equities offer better protection against down markets than gold, and said he doesn’t understand what moves the gold price.
Peter Sleep, senior investment manager at 7IM, said: "Gold saw global outflows in June and the gold price is down over the year-to-date, not helped by the soaring dollar.
"But gold is still seen by some as the ultimate safe haven vehicle and is perhaps being seen as one for the bottom drawer given trade war concerns. It can also be seen as a hedge against inflation."
Investment trust buyers, meanwhile, showed a clear preference for property funds. The most bought trust on the platform was the £498m Schroder Real Estate investment trust.
Other niche property trusts, such as AEW UK REIT and Custodian REIT, were also among the top ten most bought.
Peter Elston, chief investment officer at Seneca, said he sold his investments in alternative property assets as he feared the consequences of higher interest rates on the sector.
Simon Moore, senior investment manager at 7IM, said many investors view property companies that invest in assets outside of central London as being a diversified part of their portfolio, with returns not correlated to exposure they may have to equities or bonds.
Ben Yearsley, director at Shore Financial Planning, said he doesn’t find property investment trusts to be an attractive investment right now, due to valuations.
david.thorpe@ft.com
