IA: Equity funds hit 18-month inflow high in July

£816m in inflows

Equity funds reached a record £816m in inflows in July 2023, the highest level since December 2021, according to data from the Investment Association.

Net retail sales hit £1bn for the month, with mixed assets and fixed income strategies posting inflows of £861m and £520m, respectively. Premier Miton calls for increased ISA allowance to boost UK investment North American equity funds had a third consecutive month of outflows, losing £1.4bn between May and July, while money market was the asset class with the highest level of outflows for the month, at £912m. Tracker funds continued their positive trajectory, with £702m inflows in July. Their funds under management stood at £301bn at the end of month, representing an overall 21% s...