Investors were seeking safe havens in the form of money market funds in February, while equity and fixed income portfolios saw outflows, according to the latest figures from the Investment Association (IA).
In the IA's monthly statistics, money market funds were the best-selling asset class with net sales of £48m. In contrast, fixed income funds saw outflows of £265m and equities saw outflows of £196m, while property funds saw outflows of £119m, the largest since the financial crisis. The investment universe saw total net retail sales decline by £399m with funds under management falling from £874bn in February 2015 to £855bn. Targeted Absolute Return funds were the top-selling sector with net retail sales of £243m, up from £226m in January. This was followed by UK Equity Income, which re...
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