The past weeks of stock market gains have brought with them renewed interest in investing among reta...
The past weeks of stock market gains have brought with them renewed interest in investing among retail customers according to the latest Investment Management Association figures.
Total gross sales of investment funds jumped to £4.2bn in October from £3.6bn in September.
In the same months, net retail sales jumped to £452.7m from £109.8m, while net institutional sales jumped to £167.6m from just £38.3m.
And there was an increase in the number of funds available to investors too: 1,982 to choose from in October compared to 1,972 in September and 1,962 in October last year.
Fixed income retained its shine among retail investors, who bought UK corporate bond funds more than any other type of product.
Brits still have a problem with Europe, however, and Europe excluding UK funds were the worst selling of the lot.
|Oct 02||Sept 02||Oct 01|
|Total funds under management||£197bn||£189.7bn||£223.3bn|
|Total gross sales||£4,147.2m||£3,588.4m||£4,238.0m|
|Gross retail sales||£2,144.2m||£1,878.2m||£1,919.1m|
|Gross ISA sales||£384.6m||£374.9m||£384.7m|
|Gross PEP sales||£65m||£71.6m||£76.6m|
|Gross institutional sales||£2,003.0m||£1,710.2m||£2,363.9m|
|Total net sales||£620.2m||£148.1m||£787.5m|
|Net retail sales||£452.7m||109.8m||£258.5m|
|Net ISA sales||£238.4m||£202.8m||£286.3m|
|Net PEP sales||£-196.9m||£-207.5m||£-181.6m|
|Net institutional sales||£167.6m||£38.3m||£529.0m|
|Number of funds||1,982||1,972||1,962|
|Number of companies||130||130||147|
|Number of OEIC providers||70||70||55|
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards