The IMA’s latest statistics – for February 2013 – showed net retail equity funds at £940m, broadly spread across UK (£190m), European (£258m), Asian (£208m) and global (£258m) equity funds.
However, Japan fund sales lagged behind with net sales of just £17m during the month, while North American equity funds saw outflows of £31m.
Asia Pacific Excluding Japan (£194m), UK Equity Income (£169m), Global Emerging Markets (£163m) and Europe Excluding UK (£148m) were in the top five best-selling sectors, though it was actually Mixed Investment 20-60% Shares that led the way with net retail sales of £232m. The last time this was the best-selling sector was back in November 2011.
In contrast, fixed income funds continued their recent downward trend with a second consecutive month of redemptions. The net outflow of £163m was the highest since July 2008 (£190m). This time last year fixed income funds drew in £612m in net retail sales.
Total funds under management registered at £706bn as of end of February, compared to £617bn a year earlier.
