The percentage of total sales was up from 33 per cent in the fourth quarter of last year. Cautious Managed accounted for all of the top-five selling funds on the platform.
John Chatfeild-Roberts’ Jupiter Merlin Income Portfolio was the best-selling fund overall, improving on its second-place appearance in January. Henderson Multimanager Income & Growth and Thames River Distribution also made it into the top-five for the second successive month.
Best-selling funds in February
| Top-10 Best Sellers | Sector |
| Jupiter Merlin Income Portfolio | Cautious Managed |
| Henderson MM Inc & Growth | Cautious Managed |
| Aberdeen MM Cautious Managed | Cautious Managed |
| Thames River Distribution | Cautious Managed |
| Henderson MM Distribution | Cautious Managed |
| SL Inv Global Absolute Ret Strategy | Absolute Return |
| M&G Optimal Income | Sterling Strategic Bond |
| M&G Global Dividend | Global |
| Newton Real Return | Absolute Return |
| M&G Recovery | UK All Companies |
Source: Financial Express Analytics
In a recent Trustnet article, Financial Express data highlighted high levels of volatility in a number of funds in the Cautious Managed sector. All five of the Cautious Managed funds listed above are more volatile than the average fund in the sector over one- and three-year periods.
However, all five have returned significantly more than their sector average over a three-year period. On average, the five funds returned 22.01 per cent, outperforming IMA Cautious Managed by more than 11 per cent.
Performance of funds vs sector over 3-yrs
Source: Financial Express Analytics
Global Growth held its position as the second-best selling sector in February. Funds in the sector accounted for more than 11 per cent of sales, a rise from 7 per cent in the fourth quarter of 2010. M&G Global Dividend, M&G Global Basics and Newton Global Higher Income were the biggest contributors.
Sterling Strategic Bond saw the biggest jump in sales. It was the third-best seller overall with 11 per cent of the share, up 6 per cent from January.
Michelle Woodburn, manager of fund group relations at Cofunds, commented: "February saw Cautious Managed firmly ensconced in the top spot and it does not look like it will be giving up its title soon."
"It’s interesting to note that the top-five selling funds were not only all Cautious Managed, but they were also all multi-manager funds as well."
The underperformance of the average multi-manager fund compared with the average single-managed fund over a three-year period was revealed in a Trustnet article last month.