Firms are not expecting a return to the "equity culture" seen in the 1990s, according to research conducted by the Investment Management Association (IMA).
With interest rates in the UK at a historic low, investors have been looking for income strategies to boost the yields of their portfolios.
UK retail investors pulled a record amount from fixed income funds last month as yields spiked on fears of an end to US QE, latest IMA figures reveal.
Aberdeen Asset Management was hard hit by June's market sell-off, which contributed to a 1% drop in AUM for the asset manager in the second quarter of 2013 compared to the end of March.