Fund flows stabilise in October after four months of volatility, Cofunds
Net inflows and outflows finally stabilised in October after four months of volatility, according to the latest figures released by financial services platform Cofunds.
Mixed Investment 20-60% share were the most popular during the month, followed by strategic bonds, which accounted for 32% of net sales in October.
“Jupiter Merlin Income remained the number one selling fund both in the sector and on the Cofunds platform overall. Invesco Perpetual Distribution, Cazenove MM Diversity and HSBC Open Global Return are also in the top 10 selling funds,” Cofunds said.
Global Equity Income (16%) and Global Bond (11%) sectors were also popular during the period, with M&G Global Dividend and Newton Global Higher Income number 4 and 5 on the platform.
North America had a favourable month, and weighted for 9% of retail net.
Many sectors saw less of a dramatic outflow in October, although UK All Companies still accounted for -17% of net sales. Other out of favour sectors were Specialist and UK Equity Income, accounting for-15% and -10%.
“October has shown early signs of the volatility stabilising since Q3. The sectors which have been out of favour this year such as UK All Cap, UK Equity Income and Europe have seen outflows stemming somewhat, and some funds in these sectors are now doing well,” said Michelle Woodburn (pictured), head of fund group relations at Cofunds.
Net sales in October (Cofunds)
October 2012 Net Sales
Jupiter Merlin Income Portfolio
Invesco Perpetual Distribution
M&G Optimal Income
M&G Global Dividend
Newton Global Higher Income
SL Inv Global Absolute Ret Strategy
HSBC Open Global Distribution
M&G Strategic Corporate Bond
Cazenove MM Diversity
Newton Asian Income
Newton Global Dynamic Bond
Invesco Perpetual Monthly Income
Fidelity Strategic Bond
Newton Real Return
Legal & General All Stk IL Gilt Ind
JPM US Equity Income
Jupiter Strategic Bond
Premier Multi-Asset Distribution
Liontrust Special Situations