Net retail fund sales surpassed £1bn for the first time in 2016 in April, according to the latest figures from the Investment Association (IA), as the organisation unveils a new way of calculating its monthly data.
The IA's statistics now include sales of funds which are domiciled overseas instead of only UK funds. It has also classified the funds in the Unclassified sector by asset class, the first step in an ongoing update to this sector. According to the IA, there are 38 member firms which offer funds with overseas domicile to UK investors. There are also 11 firms which actively offer UK domiciled funds to overseas investors. All data has been backdated to 2012 for comparision purposes. IA fund market specialist Alastair Wainwright said: "We are no longer looking at just UK domiciled funds...
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