There has been a surge in net retail sales of overseas domiciled funds compared to June last year, according to the IMA's Investment Fund Statistics for June 2009.
While net retail sales of overseas domiciled funds in June were less dramatic than the preceding month's inflows, they contrast sharply with an outflow of £183.2m the previous year.
In June 2009, overseas domiciled funds saw an inflow of £44.2m, compared to May's gain of £139.4m.
Similarly, net retail sales of overseas domiciled investment fund ISAs saw an inflow of £0.9m in June 2009 compared to a rush of £1.7m into funds the previous month and an outflow of £1.9m in June last year.
Overseas funds under management of £17.8bn in June 2009 remained roughly the same as in May, but has soared 9% since June last year.
Also broadly the same as in May, overseas ISA assets of £296m slumped 3% on the previous year.
Meanwhile, funds under management of UK domiciled investment funds were £389.3bn in June 2009, slightly down on the previous month's figure of £391.6bn and 9% on June last year.
UK domiciled ISA funds under management of £76.3bn were also slightly down on May's £76.7bn and 13% on the previous year.
"Investors have been coming back to the market in recent months and June saw a continuation of this trend," says Richard Saunders, chief executive of the IMA.
"Retail investors have begun over the last two months to put money into equity funds, particularly international equities, as well as bond funds.
"As a result net retail sales in the second quarter were the highest on record and net ISA sales the highest for six years."
Partner Insight Video: Advisers have had to adapt to the changing investment landscape.
Investment trust savings scheme