Net retail sales of overseas-domiciled funds have more than doubled since last year, according to IMA's April fund statistics.
April 2009 saw an inflow of £126.1m in net retail sales of overseas domiciled funds, a 13% increase on the previous month and more than double the £53.5m seen the previous year. Furthermore, overseas funds under management of £16.7bn in April 2009 were up 5% on the previous month and year. FUM of overseas funds have rebounded by £2m after dipping to £14.7 in February this year. However, while £264m ISA assets gained 12% from March to April, they are decreased by 27% on the previous year. Net retail sales of overseas domiciled investment fund ISAs saw an inflow of £2.8 million in Apr...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
