Global growth’s popularity with wealth managers and execution only clients continued to grow in November, according to the latest sales breakdown from Cofunds’ institutional service.
The sector ranked third highest selling for wealth managers and second highest selling for execution only clients last month.
Asia Pacific ex Japan funds also increased in popularity with wealth managers and shifted from second place to take the lead as the highest selling sector. Wealth managers also favoured UK all companies, UK equity income and global emerging markets, which were second, fourth and fifth highest selling sectors respectively.
Product providers (accounting for the underlying collectives within their pension, bond and Sipp wrappers) saw cautious managed overtake corporate bonds as the highest selling sector. However, a corporate bond (M&G Strategic Corporate Bond) remained the highest selling fund for this client group.
Christopher James, director, institutional services at Cofunds, says: “November saw the same sectors continue to dominate sales for wealth managers, as funds with a global exposure such as global growth and Asia Pacific ex Japan, also performed well. Where Schroders UK Alpha Plus (UK all companies) was the highest selling fund for wealth managers, it was BlackRock Gold & General that was the most popular fund for execution only clients, ensuring specialist funds gained the top spot as highest selling sector for this client segment.”
