UK funds industry AUM hits record level in 2012 - IMA

Assets under management in the UK funds industry reached a record £658bn in 2012 and, although fixed income dominated overall sales, equities ended the year as the best-selling asset class.

Net retail sales across the asset class spectrum were lower than the previous years, at £14bn, but still helped funds reach the record level of AUM, up £80bn overall, a 14% increase on December 2011. Fixed income funds were more popular overall, with net retail sales of £5.6bn, but equity funds outsold fixed income in each of the last four months of 2012. Total equity sales amounted to £3.4bn for the year and still hold the highest proportion of total AUM. However, despite the rotation to equities towards the end of 2012, the proportion of funds under management in equities is stil...