April fund sales plummet from last year

Net sales of UK domiciled funds hit £853m last month; a dip from 12 months ago but up 60% from March. The IMA figures also showed Specialist funds remain the top sellers. Richard Saunders, chief executive of the IMA, says: “Net retail sales last month were at their highest levels for a year, bolstered by a good late ISA season. “Specialist funds, notably property funds, were the best selling sector for the sixteenth consecutive month, followed by a strong showing from the UK equity income sector.” The IMA statistics also showed funds under management in April stand at £459bn, up almost ...