Assets under management in UK funds reached a record £658bn last year, with fixed income yet again the best-selling asset class despite a late surge in interest in equities.
Net retail sales across the asset class spectrum were lower than the previous year, at £14bn, but still helped funds reach the record level of AUM. Fixed income funds were more popular overall, with net retail sales of £5.6bn, but equity funds outsold fixed income in each of the last four months of 2012. Total equity sales amounted to £3.4bn for the year and still hold the highest proportion of total AUM. However, despite the rotation to equities towards the end of 2012, the proportion of funds under management in equities is still in steady decline, going from 72% in 2003 to 53% i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
