For the first time in a year equities were more popular than fixed income, according to the September sales data by the Investment Management Association.
The trade body for the UK fund industry, which published its monthly investment fund statistics today, says equity funds saw net retail sales of £541 million (€671.1 million). This was above the average of £65 million over the past year.
“This is the first time any asset class has surpassed Fixed Income in the last twelve months,” the statement notes. The last time equity was the best-selling asset class was in August 2011 with net retail sales of £552 million.
Jane Lowe, director of markets, says global funds took much of these net sales, against an outflow of UK equity growth funds. There were, however, inflows into both UK and global equity income funds.
The best-selling sector in September was absolute return UK, which attracted net retail sales of £193 million.
Overall, net retail sales exceeded £1 billion. Net sales to institutional investors stood at £16.7 million.
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