Net retail sales of funds dropped by £100m year on year in April, the Investment Management Association (IMA) has revealed.
The latest figures from the trade body showed a drop from £2.5bn in April 2010 to £2.4bn in April 2011. Despite the fall, sales were still the highest since last April, and above the monthly average of £1.8bn. Equity funds were the most sought after product, with £1.1bn of net retail sales, the second time in 12 months sales have topped £1bn. Bond sales came in at £516m, with £465m of this taken by £ Strategic Bond funds, making it the most popular sector for the fourth month in a row. Richard Saunders, chief executive of the IMA, said ISA sales - particular those made via a pla...
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