UK funds blossomed in May as, despite UK sectors seeing outflows, four were placed in the top 20 overall selling funds, according to figures from platform Cofunds.
Mixed Investment 20-60% Shares remained the most favourable sector in May, accounting for 231% of the proportion of net sales.
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Four funds from this sector were featured in the top 20 selling funds on the platform – the £2.4 billion Invesco Perpetual Distribution, £1.3 billion Henderson Cautious Managed, £4.7 billion Jupiter Merlin Income Portfolio and £474 million HSBC Open Global Distribution funds.
The £16.7 billion Standard Life Investments Global Absolute Return Strategy fund was named the top selling fund for May.
Cofunds head of fund group relations, Michelle Woodburn, said: "The Standard Life Investments Global Absolute Return Strategy fund took the top spot in May as absolute return remained a key theme as advisers continue to seek outperformance in all market conditions.
"In addition, despite another volatile month for UK equities, with good gains followed by a correction towards the end of the month, UK sectors proved popular with advisers and their clients, with four funds listed in the top 20.
"It’s also notable that Mixed Investment 20-60% Shares continued its reign as the most favourable sector," Woodburn added.
