Retail fund sales plummet in January after strong year

Retail fund sales tumbled last month in a reversal of the strong inflows seen in 2014, according to the latest Investment Association (IA) figures.

In January, retail funds saw net sales of just £320m compared to £1.7bn of inflows in December. The figure marks a reversal of the trend for rising inflows seen throughout 2014, when net sales hit their highest level since 2010. January's sales were down 72% on the same month in 2014, when net retail sales hit £1.1bn. The UK All Companies sector, which had already suffered a £1.2bn outflow in 2014, lost a further £679m of retail money. Meanwhile, the UK Equity Income sector topped the tables for the eighth-consecutive month, providing some relief with net sales of £280m. Propert...