Corp bonds retain top spot in record August sales - IMA

Corporate bond funds remain a firm favourite with investors, latest figures from the Investment Management Association (IMA) show.

The sector was the best-selling for the 10th straight month, followed by UK absolute returns and strategic bond funds. IMA members also saw the highest net sales figure ever recorded in August, signalling a recovery in investor confidence. Net inflows hit £2.2bn in August, while total assets under management grew 2.8% to £439bn over the past 12 months. Net retail sales in 2009 now stand at £15.9bn. ISA sales were £151m in August, down 31% from the previous month but far ahead of figures seen in August 2008, when ISAs lost a total of £298.7m. So far this year, ISA sales total £1...