IA funds shrug off Covid-19 sell-off as retail assets return to 2019 peak
Net sales of approximately £12.2bn in Q2
UK retail funds in the Investment Association universe saw net sales of approximately £12.2bn between April and June, recovering funds under management (FUM) to its 2019 peak of £1.3trn, following a 14% dip in the March sell-off.
Investors pulled a record £9.7bn from IA funds in March amid the peak of the coronavirus-driven sell-off, which was roughly equivalent to total net inflows in the previous year, but returned to net inflows...
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