UK savers poured more cash into investment funds during Q2 than they did through the whole of 2019, figures from the Investment Association (IA) show.
The IA said a cumulative £11.2bn flowed into retail funds during the second quarter of 2020, as investors looked to take advantage of plunging equity market prices. The number marks a sharp rebound following the highest ever monthly outflow in March and eclipsed 2019's full-year total of £9.8bn. IA CEO Chris Cummings said: "With coronavirus infection rates now rising globally post-lockdown and US real GDP having contracted 32.9% in Q2, the outlook for fund flows for the second half of 2020 remains uncertain." H1 2020 results round-up: Profits tumble but AUM grows at Aviva Investors ...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes