August net retail fund sales reach 'modest' inflows

Driven by continued demand for absolute return and a swing back to bond vehicles, August sales recovered to an inflow after the £511m outflow recorded in July this year. However, last month’s figure was a far cry from the £742m inflow recorded for August 2007. The ‘other’ category, which includes Absolute Return, reached a £251m inflow – while bonds hit a £118m inflow. Equity funds once again saw sharp outflows, £344m last month. Net UK domiciled sales within ISAs saw a £282m outflow in August, however it was lower than the £412m outflow for July. In net terms, the most popular ISA sect...