Retail fund sales slump in Q1 - IMA

Net retail sales for Q1 2012 have slumped considerably compared to the two previous years, according to the Investment Management Association (IMA).

In its sales figures for March, the IMA reported that in the first quarter of 2012, net retail sales totalled £3.8bn. This is a significant fall from the first two quarters of 2011 and 2010 which saw net retail sales of more than £6bn. Net retail sales for March alone totalled £1.4bn, down on last March's total of £2.7bn. Total funds under management for March were £613.2bn, slightly down on February's £615.6bn. For the seventh consecutive month, fixed income was the most popular asset class, contributing net retail sales of £660m in March. The average monthly sales of fixed inc...