JPMorgan Asset Management said fund sales show consumers are more in line with institutional investors than financial advisers as emerging markets funds dominated sales through its private client platform.
 
The firm reported that the top selling fund through online investment platform WealthManager Plus for the month to 19 July was the Fidelity South East Asia fund, managed by Allan Liu.
 
The First State Greater China fund was second-placed followed by the BlackRock Gold & General fund.
 
Jasper Berens, head of UK retail sales at JP Morgan Asset Management, said the sales figures - which do not include JPMorgan funds - revealed a divergence between adviser and private clients.
 
He said, ‘We are starting to see growing evidence that institutions are now reweighting portfolios to include much more emerging markets and Asia exposure.
 
‘We are now starting to see direct consumer are doing the same thing.
 
He added, ‘I still find it extraordinary that with the institutional world and direct consumers going into global and emerging markets, financial advisers are talking about putting clients into emerging markets but aren’t doing it.
 
‘The adviser sales on fund platforms are still dominated by multi-manager, Uk equity income and bond funds.’
 
Other emerging market funds in the top ten selling funds included: Fidelity Emerging Europe, Middle East & Africa, First State Indian Subcontinent, Neptune India, Neptune Russia, First State Global Emerging Markets Leaders and Aberdeen Asia Pacific.
 
The only non-equity fund to have been included in the top ten best-selling funds was the Henderson Index Linked Bond fund, managed by Phil Apel.