UK savers poured more cash into investment funds during Q2 than they did through the whole of 2019, figures from the Investment Association (IA) show.
The IA said a cumulative £11.2bn flowed into retail funds during the second quarter of 2020, as investors looked to take advantage of plunging equity market prices. The number marks a sharp rebound following the highest ever monthly outflow in March and eclipsed 2019's full-year total of £9.8bn. IA CEO Chris Cummings said: "With coronavirus infection rates now rising globally post-lockdown and US real GDP having contracted 32.9% in Q2, the outlook for fund flows for the second half of 2020 remains uncertain." Laura Suter, personal finance analyst at AJ Bell, said the figures suggested...
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