Net retail sales of funds grew for the fourth month running, with inflows of £653.3m according to the latest IMA statistics.
Bond funds appear to be becoming increasingly popular with investors with a total of £366m invested in these, while equity funds saw outflows of £768m. However, net retail sales in May 2008 showed a significant decrease from last year's figure of £1.1bn. Funds under management stood at £453.7bn, compared to £471.6bn in May 2007. UK domiciled ISA funds under management remained the same as the previous month at £93.6bn but were 2pc lower than the previous year. Net sales of UK domiciled investment fund ISAs saw outflows of £198.3m, compared to inflows of £397.3m in April 2008 and outfl...
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
