UK income funds see record inflows as demand continues

UK equity income funds recorded their best month on record in April as the ongoing demand for income solutions saw them rake in hundreds of millions of pounds.

The IMA UK Equity Income sector saw net inflows of £500 million, according to the latest data from the Investment Management Association (IMA), the highest ever recorded since it began collecting data in 1992. The last time this sector was the best-selling was in September 2013. Property was the second most popular sector at £446m, while the IMA's four mixed asset sectors also performed well with combined flows of £511m. The record sales for income funds helped total net retail sales come in at £2.9bn in April, the highest since April 2011. IMA CEO Daniel Godfrey (pictured) said: "...