UK All Companies finished 2010 on a high as the highest selling sector for wealth managers in December, according to the latest sales breakdown from Cofunds’ institutional service.
The sector moved into the top spot having been the second highest selling sector in November for wealth managers. UK All Companies also increased in popularity for execution only clients, up from the 10th highest in November to the fourth highest selling sector in December.
Strategic Bonds also had a successful December gaining 12 places and taking second place in December, up from 14th.
Product providers (accounting for the underlying collectives within their pension, bond and SIPP wrappers) continued to favour Cautious Managed, Corporate Bonds and Balanced Managed, which all maintained their places as first, second and third highest selling sectors for a second month.
Christopher James, Director, Institutional Services at Cofunds says: “December saw Wealth Managers shift their focus from Asia Pacific Ex Japan to UK All Companies and Strategic Bonds, with Legal & General UK 100 Index and Legal & General Dynamic Bond the highest selling funds for these sectors respectively.
He adds: “While UK All Companies funds also increased in popularity among execution only clients, the Specialist sector remained the highest selling sector for this client group. For product providers M&G Strategic Corporate Bond and Jupiter Merlin Income Portfolio continued to be the highest selling funds for a second month.”