An exodus from equity and property funds led to the highest ever monthly net retail outflow in December, the latest IMA figures reveal.
After the first overall monthly outflow for 15 years in November, outflows continued to rise in December, reaching £377.4m. Net retail sales in equities recorded an £844m outflow, of which £242m was in property funds. Balanced funds were the most popular asset class, with inflows of £154m. ISA sales hit £17m in December, reversing the outflows in the previous two months, but down on the £106.6m in the corresponding month in 2006. Despite the gloomy November and December figures, total net retail sales for the whole of 2007 reached the second highest figure since the peak in 2000. Howe...
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
