Global equity income overtakes Sterling strategic bond, Cofunds
Global equity income overtook Sterling strategic bond for the first time to become the second most popular sector in February, according to figures published from platform for financial services Cofunds.
Newton Global Higher Income was the most popular fund within the sector and second most popular fund overall during the month.
Mixed Investment 20%-60% Shares remained the most popular sector in February, and accounted for 221% of the proportion of net sales.
Three of the top 20 selling funds on the platform were in this sector, including Jupiter Merlin Income Portfolio, HSBC Open Global Distribution and Investec Cautious Managed.
“While the Mixed Investment 20%-60% sector remains popular with advisers, it’s interesting to note Global Equity Income saw record breaking inflows in February resulting in the sector taking second place based on 83 per cent of net sales. The Global Emerging Markets sector also continued to hit new records after the sector accounted for 82 per cent of the proportion of net sales,” said Michelle Woodburn, head of fund group relations at Cofunds.
She added: “The Asia Pacific Excluding Japan sector accounted for 51 per cent of net sales, nearly five times higher than January’s percentage.”