Equities were the best-selling asset class in August for the fifth month in a row, with over £1bn in inflows, according to the latest Investment Management Association (IMA) statistics.
Net retail sales over the month hit £1.8bn, pushing funds under management up to £732bn in total. It means FUM across the IMA universe has climbed 18% since August last year, when the figure stood at £622bn. Equity funds took in £1.1bn in August, slightly below the £1.4bn of the previous month, but well above the £650m average over the last 12 months. Mixed Investment 20%-60% Shares was once again the best-selling IMA sector, with net retail sales of £273m. It was closely followed by UK Equity Income and Europe ex-UK, which took in £225m and £190m, respectively. IMA chief execut...
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