The latest IMA investment figures show that retail investors did put more money into funds in the tr...
The latest IMA investment figures show that retail investors did put more money into funds in the traditional manner before the end of the tax year, but sums invested in total are still well below the highs seen some two to three years ago.
The positive news was that total net sales in April hit £1.76bn, the highest since June 2001 – although total net retail sales at £1bn were still below April 2002 levels.
Net sales of ISA funds at £681m were still 41% down on April 2002's figures of £1.2bn.
The trend towards more direct sales of ISA funds continued in April, the IMA says, when they accounted for 48% of money invested this way.
However, intermediaries still retain their grip of overall investment fund sales, accounting for 62% of all retail fund sales during the month.
April's increase in sales indicates that investors still hunger for investment opportunities, although most remain cautious.
The number of funds used to calculate the figures is down slightly to 1,972 from 1,989 at the same time last year, while the number of providers has fallen to 129 from 138, the IMA says.
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From June 2019