Dramatic turnaround for fixed interest sales on Skandia platform

Arrow down1Skandia saw its August net sales for fixed interest plummet from 16% of net sales in July to minus 8% of net sales in August and bottom of the sector leaderboard. Skandia, which is part of Old Mutual Wealth, says only as recently as May fixed interest net sales topped the leader board. “Within this sector, gilts have continued their steady decline, but corporate bond outflows accelerated during August,” Skandia says. “In contrast, sterling strategic bond flows have been very strong all year and continue to do well.” Strategic bond funds are growing in popularity as investors move away from longer duration products in fixed income to funds with a more flexible approach to navigate the bond markets as talk of quantitative easing tapering by the Federal Reserve in the US continues. Instead, fund flows have poured into the multi-asset sector, which is now the top selling sector by far. Equities and property have also fared well. UK equities tops the equities sector in terms of region, followed by global and North American allocations. ©2013 funds europe

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