Last month, quarterly retail fund sales reached a peak not seen since 2011, according to the latest figures released by the Investment Management Association (IMA).
Its latest statistics showed net retail sales topped £2bn in September, taking the total for Q3 to £5.3bn, the highest quarterly figure since Q2 2011. However, institutional funds saw a net outflow of £1.2bn over the month, against a £7m inflow in September 2012. Total funds under management hit £739bn, up 17% from September 2012. Equity was the best-selling asset class for the sixth month in a row, taking in £1.3bn. The third quarter of 2013 was the best quarterly figure for equity since the second quarter of 2000. At the sector level, UK Equity Income was the most popular with i...
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