UK savers put £4.7 billion (€5.2 billion) into retail funds in May following positive fund flows in April, according to figures published today by the UK’s Investment Association (IA).
The IA said that active funds saw continued strong net retail sales of £3.5 billion in May, reaching more than double the net retail sales of tracker funds, which saw £1.3 billion in net retail inflows.
Bond funds saw net retail sales double from April, with £1.9 billion in May.
Responsible investment funds saw another month of strong net retail sales, attracting £911 million in May.
Chris Cummings, the IA’s chief executive, said: “It was steady as she goes for the fund market in May, as net retail sales continued their stable recovery after significant outflows in March.
“Building on strong inflows in April, active funds were boosted by £3.5 billion in May, while tracker funds also benefited. Bond funds were also buoyed in May, doubling April’s inflows to £1.9 billion.
“Responsible investment funds sustained their strong momentum by pulling in close to a record £1 billion for a second month in a row.”
©2020 funds europe
