Retail funds set a new monthly record for net sales in April as investors poured £4.9bn into the sector, according to the latest statistics from the Investment Association.
Equity funds took the lion's share of inflows at £2bn, marking the asset class's second highest sales on record. By geography, global funds were top on £1.2bn, followed by North American and European equity funds with inflows of £299m and £255m respectively. However, Asian equity funds suffered net outflows of £47m. "April's figures were the second highest monthly inflow on record; with the highest being recorded in June 2013, when £2.5bn poured into equity funds," said IA fund market specialist Alastair Wainwright. Schroders CEO Peter Harrison to be chair ofInvestment Association...
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