Fund inflows in September were at their lowest level since the credit crunch hit markets in October 2008, while quarterly figures were down two thirds on last year, according to the latest figures from the Investment Management Association (IMA).
Net retail sales were just £568m last month, compared to £2.4bn in September last year. Sales were also well below the monthly average for July and August of £2.1bn. Third quarter retail sales were £2.6bn, down around two thirds compared to the £7.5bn of sales for the same quarter last year. Richard Saunders (pictured), chief executive at the IMA said: "September's further slowdown in fund sales confirms the trend of the previous two months. As a result net retail sales in the third quarter were the lowest since 2008." Equities overall saw outflows of £175m as investors piled into ...
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