Net retail sales of funds fell dramatically to £140m in June 2008 compared to £653m the previous month and £748m in June 2007, according to the latest statistics from the IMA.
The biggest net inflow was into the 'other' sector driven by absolute return funds, which saw inflows of £214m, whilst balanced funds saw inflows of £126m. Equity funds saw outflows of £371m, with the largest outflow coming from UK All Companies sector at £164.7m. It was also a bad month for property funds which saw an outflow of £14m. Funds under management of UK domiciled investment funds was £425.2bn in June 2008, 6pc lower than in May 2008 and 9pc lower than in June 2007. UK domiciled ISA funds under management of £87.8bn was 6pc down compared to the previous month and also compa...
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