Equity funds accounted for £1.2 billion (€1.5 billion) of net UK retail sales in June, with equity income funds especially popular.
The figure was more than half the total of £2.1 billion of net retail sales tracked in the month by the Investment Management Association (IMA), whose data includes UK-authorised unit trusts and open ended investment companies, but not investment trusts of exchange-traded funds.
The association says June was the fifteenth consecutive month in which equity funds were the best-selling asset class in its rankings.
“Property funds also continued to be popular, with property the second best-selling asset class in June,” says Daniel Godfrey, chief executive of the association. “Mixed asset funds were not far behind.”
The data suggests that a “great rotation” from bonds to equities, which was heralded last year, is still in effect for many UK retail investors. The figures also suggest far more enthusiasm from retail investors than institutions in June. Institutions registered net sales of £437 million during the month, according to the IMA, about a fifth of what retail customers invested.
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