UK fund sales at highest level in a year

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Net retail sales of UK domiciled funds reached £2.1bn in April, the highest level since April last year and well above levels seen over the last nine months.

Net retail sales of overseas domiciled funds to UK investors also hit record highs of £518m last month, according to the latest data from the Investment Management Association (IMA). Fixed income was the leading asset class for the eighth consecutive month, with net retail sales of £599m in April, above the monthly average of £487m for the previous 12 months. Mixed asset followed fixed income, with net retail sales of £487m, the highest since June 2011. Equity funds saw net retail sales of £162m, finally attracting some interest from investors following six-months of net outflows. ...

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