Net retail sales in UK domiciled funds plunged to a £21m outflow in September, more than £900m down on the inflow recorded the corresponding month last year.
The latest IMA statistics revealed the Europe (ex UK) and Specialist sectors led the retail investor exodus, with outflows of £178m and £125m respectively. UK Equity Income was more popular however, posting a £174.3m inflow. Retail fund net sales once again reached negative territory, after the £90m August inflow stemmed the sharp £511m outflow seen in July. Total UK domiciled investment funds under management was £380bn in September, 11% down on August and 19% lower than September 2007. ISA net sales continued post outflows, with the £250.9m figure last month following a £298.7m decline...
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