The latest monthly Investment Management Association sales figures show that retail investors contin...
The latest monthly Investment Management Association sales figures show that retail investors continue to hedge their return to unit trusts and OEICs by opting for fixed income rather than take on more risk despite the recovery in the stock market so far this year.
Net retail sales in July at £863m were higher than the £567m recorded in the same month last year, but were still down on June's tally of £870m as net ISA sales continued to slip.
The aversion to risk meant that most retail investors also continued to stick with Corporate Bonds, making it the most popular sector by sales.
Institutions instead made Global Growth their most popular sector by sales, a very different beast altogether, which indicates a bullish belief in continued stock market recovery.
Also unlike retail investors, institutions continued to pour more new money into funds. July'a monthly total net institutional sales hit £561m compared to £541m in June and £383m in July 2002, the IMA says.
Total funds under management have swelled with the stock market recovery to £222bn, the highest recorded for 13 months.
Total funds under management
Total gross sales
Gross retail sales
Gross ISA sales
Gross PEP sales
Gross institutional sales
Total net sales
Net retail sales
Net ISA sales
Net PEP sales
Net Institutional sales
Number of funds
Number of companies
Number of OEIC providers
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress