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 in each of the three months that followed, IA data shows. The trade body's annual Investment Management Survey (IMS), published today (24 September) shows that the strong rebound in sales took total net retail inflows for the first half of 2020 to £8.6bn, compared to £3.5bn at the same time last year. Fixed income funds were hardest hit by March outflows, accounting for 76% of total...
To continue reading this article...
Join Professional Adviser
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
