Cofunds: M&G Global Dividend fund most popular in August

M&G Global Dividend, managed by Stuart Rhodes, was the best-selling fund on Cofunds for August.

Rhodes aims to deliver a dividend yield above the market average by investing mainly in a range of global equities. Over one year, the £7.5 billion fund has returned 20% compared with 17.5% for the UT Global sector as at 16 September.

Top holdings include Prudential, Microsoft, Johnson & Johnson and British American Tobacco.

The second-highest selling fund was Neil Woodford's £2.5 billion Invesco Perpetual Distribution. Over one year, Woodford's fund has returned 14.7% compared with 8.6% for the UT Mixed Investments 20%-60% Shares sector as at 16 September.

The third-best selling was the £756 million F&C MM Navigator Distribution fund, managed by Gary Potter and Rob Burdett. Over one year, it has returned 12% compared with 8.6% for the UT Mixed Investment 20%-60% Shares sector as at 16 September.

Mixed Investment 20-60% Shares accounted for the majority of net sales in August, 191% of the proportion it achieved in July.

Global Equity Income also had a good month. Ranking as the second-highest sector and doubling July's net sales figures, the sector accounted for 45% of net sales.

Graham Venn, head of commercial at Cofunds, says: "While Mixed Investment 20-60% Shares has now extended its lead at the top of the table to eight consecutive months, we also saw strong performance from a number of other sectors.

"With Global Equity income ending the month in second place and Global doubling on the previous month's net sales figures, some investors are clearly becoming more interested in funds that invest overseas.