Absolute return funds dominate platforms' sales figures

BlackRock UK Absolute Alpha dominates platform sales, with Income sector taking just 2% of net Cofunds money in Q2

FundsNetwork and Cofunds sales figures show Mark Lyttleton's BlackRock's UK Absolute Alpha remains dominant, with Neil Woodford's income funds hot on its heels. Figures for June show Bestinvest's recently launched multi-asset funds at the top of the pile but this is because of a large internal transfer rather than actual sales according to the firm. Cofunds said year to date it has taken around £2bn of new assets onto the platform despite poor overall industry sales. Group communications head Richard Eats said the figures are dominated by runaway absolute return fund sales. While B...