Investors appear to be returning to risk assets after net retail sales of equities outstripped fixed income funds for the first time in a year, according to the latest figures from the Investment Management Association (IMA).
September sales figures published today show equities were the most popular asset class over the month, with net retail sales of £541m. This is far ahead of its average figure over the last 12 months of a £65m outflow. It is also the first time any asset class has surpassed fixed income in the last 12 months. Investors have flocked to bond funds over the past year amid ongoing uncertainty in the eurozone and slowing global growth, pushing yields on the ‘safest’ developed market government bonds down to record lows. The last time equity was the best selling asset class was in August...
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