Net retail sales hit a record £333m outflow in November, down from a £600.6m inflow in the corresponding month last year.
The latest IMA statistics revealed equities saw the largest sales outflow, £606m. Property funds in the specialist sector had an £253m outflow, while balanced funds were the most popular asset class with inflow of £169m. ISA sales saw outflows of £50m, higher than the £31.4m outflow figure in October. UK All Companies was the most popular sector, with 25% of gross sales. In net terms, Cautious Managed was the most popular sector. UK domiciled investment funds under management hit £462.3bn, down 4% from October but 16% higher than November 2006. The IMA says the funds under management...
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