Investors have been looking closer to home in recent months, according to funds platform Cofunds, which said UK and European funds increased in popularity in April.
Figures for financial adviser sales on Cofunds showed the UK All Companies, UK Equity Income and European sectors increased their net sales numbers in April.
However, overall net sales data showed the cautious managed Jupiter Merlin Income Portfolio Fund was the most popular fund, with the global growth M&G Global Dividend Fund coming in second.
Multi-manager funds continued to dominate the top ten net adviser sales on Cofunds in April, but in third place was the Invesco Perpetual Monthly Income Plus Fund which invests in bonds and UK equities (see Investment Focus: Invesco Perpetual Monthly Income Plus Fund for more about the Invesco Perpetual fund).
The UK equity focused Artemis Income Fund and Axa Framlington UK Select Opportunities Fund were ranked 17th and 18th by net sales.
Cautious Managed remains the highest selling sector, but, by month, sales in cautious managed funds were at their lowest since 2009.
Fund group relations manager at Cofunds, Michelle Woodburn said: “There were two themes of interest that emerged from the April sales trends. Firstly the sectors closer to home, UK Equity Income, UK All Companies and Europe, excluding UK, all saw an increase in their net sales as advisers began to favour these sectors due in part to increased volatility in the markets and unrest in the middle east.”
Woodburn said funds in the cautious managed sectors had seen a sizeable decrease in net sales for the month but the sector remains popular.
Cautious managed funds in the Cofunds adviser net sales top 20 include the Jupiter Merlin Income Portfolio, the Thames River Distribution Fund, Henderson Multi Manager Income and Growth, and the Aberdeen Multi Manager Cautious Managed.
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