Fund sales: Investors continue to back equities

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...