Fund sales: Investors continue to back equities

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Equity funds remained the most popular choice with retail investors for the sixth consecutive month in September, figures reveal.

According to the data from Investment Management Association (IMA), sales of equity funds reached £1.3bn taking the third quarter total to £3.8bn, the highest quarterly figure since the second quarter of 2000. The firm favourite sector in September was UK Equity Income, which saw sales of £505m during the month, an increase on the £88m pulled in during the same month last year. Global equity reported sales of £365m while European equity funds brought in £240m. Other best-selling sectors included Mixed Investment 20%-60% shares, Property, Europe excluding UK and Targeted Absolute Re...

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