June money flows through Cofunds’ institutional service highlight that both execution only and product providers favoured UK All Companies, with this sector achieving second and third position respectively for these categories. Meanwhile wealth managers looked to Strategic Bonds last month, as this sector jumped from sixth place in May to claim the top spot in June.
Product providers (accounting for the underlying collectives within their pension, bond and SIPP wrappers) continued to favour Cautious Managed, while Corporate Bonds knocked Balanced Managed off its position as second highest selling sector for this category.
Christopher James (pictured), Director, Institutional Services at Cofunds, says: “UK All Companies was the best all round sector last month, appearing in the top three selling sectors in both execution only and product providers categories.
“Within execution only clients, Invesco Perpetual dominated net sales, accounting for 10 out the top 20 funds, compared to only two in May. M&G fared well with product providers, with three funds featuring in the top four within this category.”