IMA

Sales of overseas domiciled funds have rocketed in July, according to the latest figures from the IMA.

Top fund managers, capable of delivering the highest alpha level for investors, achieved the greatest degree of outperformance in the IMA Global Bond and Global Emerging Markets sectors over the past year.

There has been a surge in net retail sales of overseas domiciled funds compared to June last year, according to the IMA's Investment Fund Statistics for June 2009.

Retail investors are starting to pile back into equity funds at the end of a record quarter for sales, according to the latest IMA monthly figures.

IMA chairman Robert Jenkins argues the reason for the roll-out of the EU regulation of the alternatives industry stems from a case of "mistaken identity".

The investment management industry must get to grips with EU directives quickly and work out its priorities while there is still time to influence them, according to the IMA.

Jarkko Syyrilä, director of international relations at the Investment Management Association, says the asset management industry must mobilise itself to face the beginning of a regulatory crisis.

Investor confidence turned positive last month, as the IMA GB Investor Confidence Index climbed to 106 in May.

The IMA has amended its main definition of funds in the Absolute Return sector to emphasis the fact they should be delivering absolute returns over a 12-month timeframe.

Net retail sales of overseas-domiciled funds have more than doubled since last year, according to IMA's April fund statistics.