More specifically, UK equity funds proved to be the best-selling for the fourth consecutive month with net retail sales of £555m.
"Strong fund sales continued in the second month of 2014 with investors continuing to favour equity funds. UK equity funds in particular are seeing the best net retail sales for some time," IMA chief executive Daniel Godfrey said.
He added: “However, looking at the top five best-selling IMA sectors, investors also invested significantly into property, fixed income and targeted absolute return funds."
Funds under management were up 10% year on year, from £710bn in February 2013 to £783bn the same month this year.
In the asset class division, equity continued to be the best-selling sector with net retail sales of £681m. Second runner-up was mixed asset, which tallied net retail sales of £303m. Third best-selling asset class was property, which saw its highest retail sales since January 2010, at a total of £298m.
Meanwhile by region, Global equity funds were the second best-selling region with net retail sales of £296m. Meanwhile Asian and North American equity funds saw the highest net retail outflows on record at £260m and £290m respectively.
In the IMA sector, the top best-selling sector was the UK All Companies with net retail sales totalled £371m, above its 12 month average of £60m. Others on the top five list included Property, Targeted Absolute Return, Global Equity Income, and Strategic Bond.
At the bottom, the worst-selling IMA sector for February 2014 was North America with a net retail outflow of £255m.
Net sales for the top five fund platforms providing data to the IMA – including Cofunds, Fidelity, Hargreaves Lansdown, Skandia and Transact – totalled £1.1bn
Funds under management across the five fund platforms were up 19% year on year at £168bn, compared with £141bn a year earlier.
