Low rates and soaring markets push IMA equity fund sales to £8bn in 2013

Sales of equity funds are on track to reach their highest level since 2000, with net sales of £8bn in the first nine months of 2013.

According to the latest Pridham Report, strong demand for returns above the paltry rates available on cash has pushed up equity fund sales to highs not seen since 2000. Standard Life Investments is once again top of the table with £819m in sales in the third quarter, while Schroders and Artemis were in second and third place with £622m and £498m respectively. Schroders benefited from the acquisition of Cazenove, with Julie Dean's Cazenove UK Opportunities fund being the group's best-selling fund and accounting for 20% of gross sales. For Artemis, Adrian Frost and Adrian Gosden's Ar...