Risk-averse lead fund industry sales down

Professional Adviser
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Wary investors, tired of their losses over the past three years made December 2002 a month to forget...

Wary investors, tired of their losses over the past three years made December 2002 a month to forget according to the Investment Management Association's latest monthly figures, which show that net fund sales and net ISA sales declined on both a monthly and annualised basis. Retail sales took the biggest plunge as net sales of £296m paled compared to the £606.5m figure recorded in the same month one year earlier. Net ISA sales were £211.3m compared to £264.8m in December 2001. And not only were investors investing less, they were also investing less audaciously, with a ...

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