UK investors were setting their sights on global funds to mitigate against uncertainty in the lead up to the US election.
Global equity, global emerging markets and global bonds made up three of the top five selling sectors in October, according to the Investment Association's figures.
The targeted absolute return sector scored net retail sales of £426m, making it the best selling sector.
Total net retail fund sales were £595m, as compared to £1.7bn in the same month last year. Funds under management increased by more than £20bn, making it to the £1tn mark.
Property and equity funds both performed poorly, with net outflows of £276m and £960m respectively.
The chief executive of the Investment Association, Chris Cummings, said the figures underlined the caution among UK investors ahead of Donald Trump's election to the US presidency.
Alastair Wainwright, fund market specialist at the Investment Association, said: "Investor caution was once again evident in October as retail sales flows focused on traditionally less risky areas of the market.
"Targeted absolute return was once again the best-selling sector, however the remaining sectors in the top five had a global focus with global equities, global emerging markets and global bonds all featuring. This is a continuation of a trend we have seen all year as investors move away from country or strategy specific funds toward wider mandate funds."