Corporate bonds continued to be favoured by UK investors in the second quarter of the year, according to money flows in Cofunds' institutional service.

The investment platform said the sector featured in the top five for all client types in the three-period between April and June.

This trend was particularly prevalent amongst product providers, with corporate bonds coming top for net inflows in the three months ended 30 June. M&G dominated this space, with M&G Corporate Bond and M&G Strategic Corporate Bond regularly featuring in the most popular funds.

The platform said that the Newton Global Higher Income Fund is now the only fund to remain in the top 20 funds across all three client types: wealth managers, execution only and product providers.

Cofunds had  £40 billion ($62 billion) in assets under administration on 1 June.