UK equities lead the charge

UK All Companies fund sales surged in June, boosting the sector from the 35th to the fourth most bought between May and June as investors poured into UK equities.

UK equities lead the charge

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Equities were the best-selling asset class in the month, as net retail sales reached £884m. Quarterly sales reached their highest level since Q4 2010 at £1.3bn.

UK equity funds were the top sellers of all, totalling £479m and reaching their highest level since October 2006. The quarterly sales total for funds of this type reached its highest level since Q4 2006 at £857m.

Global equity and North American equity were the third best-selling sectors during the month, while sales of Japanese equities reached the highest level since August 2011.

Europe was the only region to see a net retail outflow in June 2013, the first month of outflows since August last year.

Sales of property funds reached a three year high in the month as net retail sales hit £132m, the highest monthly level since July 2010, according to the latest IMA monthly statistics.

Property funds also enjoyed a three-year high in terms of quarterly sales, reaching £385m, the highest level since July 2010.

Sales of fixed income funds, however, hit a record low with outflows of £624m, the highest net retail outflow since IMA records began in 1992.

Sterling Corporate Bond, Global Bond and Sterling Strategic Bond were the three worst-selling sectors during the month.

The asset class has not been faring too well this year, falling to a four-month low in April.

The widespread sell off of fixed income assets in June is being attributed to the Fed announcement it may begin drawing back its QE later this year.

 

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