The UK saw “record” net retail fund sales in March, with equities leading the way as investor confidence increases.
The Investment Association said over £4 billion (€4.7 billion) was transacted – the vast majority of the entire £6.6 billion transacted in the first quarter.
Equity funds saw net retail sales of £1.7 billion in March, with the UK All Companies becoming the best-selling sector for the first time since December 2013.
Tracker funds were the “major beneficiaries of investors’ renewed interest in UK equities”, the IA said. Passive funds took in in £596 million, whilst active funds received £328 million in net retail sales.
Chris Cummings, chief executive of the IA, said: “We are now starting to see some signs of investor confidence returning following a period of reduced risk appetite in the context of geopolitical and economic uncertainty throughout 2016.”
During the first quarter of 2017 when net retail sales for the industry reached £6.6 billion – which is the highest level since the first quarter of 2014 – mixed asset funds were the most popular products over the quarter, followed by fixed income and then equities, meaning equities shot to first place in the most recent months that figures are available for.
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