Retail investors pull record £624m from bond funds in June

UK retail investors pulled a record amount from fixed income funds last month as yields spiked on fears of an end to US QE, latest IMA figures reveal.

Net retail fixed income outflows of £624m, the highest since IMA records began in 1992, saw £ Corporate Bond, Global Bonds and £ Strategic Bond rank as the three worst-selling sectors. The outflows saw "may have been a response to anxieties about future tapering by the Fed and other central banks", according to IMA director of public policy Jonathan Lipkin. Equity sales of £884m accounted for the vast majority of the £1.1bn in total net retail sales seen in June, with UK equity funds enjoying their best month in almost seven years. UK equity funds were the best-selling regional equ...