UK Equity Income returned as the best selling retail sector in September, though overall UK funds under management dipped a further 11pc from August to £380bn, according to the IMA.
The figure for total funds under management has fallen 19pc since September 2007, and represents a significant drop off from a peak of £481bn in October that year. However, £174.3m of inflows into UK Equity Income can be seen to represent a return to core UK investment for some - the best selling sectors for most of 2008 have been Absolute Return, Specialist, and fixed interest categories. Europe Excluding UK continues to be the worst selling retail sector, with net outflows for the month at £178m. Justin Urquhart Stewart, marketing director at Seven Investment Management, was surpris...
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