Retail fund sales slump in Q1 - IMA

In its sales figures for March, the IMA reported that in the first quarter of 2012, net retail sales totalled £3.8bn. This is a significant fall from the first two quarters of 2011 and 2010 which saw net retail sales of more than £6bn. Net retail sales for March alone totalled £1.4bn, down on last March's total of £2.7bn. Total funds under management for March were £613.2bn, slightly down on February's £615.6bn. For the seventh consecutive month, fixed income was the most popular asset class, contributing net retail sales of £660m in March. The average monthly sales of fixed inc...