Absolute return funds topped the retail sales charts every quarter last year, but too many investors were wrong-footed, writes editor Katrina Lloyd.
2016 was undoubtedly an annus horribilis for the UK funds industry. Net retail sales plunged from £16.8bn in 2015 to £4.7bn during what was "an extraordinary and challenging geo-political year", according to Investment Association chief executive Chris Cummings. Equity investors in particular appeared to have been caught out by strong market rebounds after June's Brexit vote and Donald Trump's US Presidential Election victory. In total, equity funds suffered net retail outflows of £8.2bn, with the UK All Companies sector shedding £5.4bn. Unsurprisingly, during a volatile year whic...
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