But the fund management representative was at pains to highlight that this is only one month of sales data and while the year so far is down on 2011 statistics, it is still “healthy”.
The situation certainly has a long way to go before fund flows reach the dire levels seen in October 2008 – during the peak of the financial crisis – as back then the IMA recorded £490m in outflows.
Net retail sales for the eight months to the end of August totalled £9.1bn, down from £15.8bn in the same period last year.
Fixed income continues to hold sway as the leading asset class, with net retail sales of £518m in August making it the best-selling asset class for the twelfth consecutive month.
In August bond funds took a 25% share of gross retail sales, which includes switches as well as new investment.
Meanwhile, equity funds saw a net outflow of £604m during the month, the asset class’ biggest redemption since November 2011, yet equity funds still took 48% of gross sales, just slightly down from its average of 49% in the past 12 months.
Finally mixed asset retail sales were £77m during August, their lowest since January 2009 when they were £23m.