Fund sales reach highest level since August 2011
The Investment Management Association (IMA) has revealed net fund sales in February reached their highest level since August 2011, with sales dominated by fixed income funds.
The IMA £ Corporate Bond, £ Strategic Bond and Global Bonds sectors were the top-selling sectors during February.
Total funds under management grew to £615.4 billion in February.
Richard Saunders, chief executive of the IMA, says: “Fixed income funds continue to be the most popular asset class.
“Equity sales were also positive in February following outflows in four of the last five months. Continuing buoyant markets helped funds under management to a record £615 billion at the end of the month.”
Fixed income saw net retail sales of £553m, while equity fund sales increased from £68m in January to £249m in February. Mixed Assets net retail sales dropped to £123m – its lowest since March 2009.
TOP FIVE SELLING IMA SECTORS
1. £ Corporate Bond
2. £ Strategic Bond
3. Global Bonds
4. Global Equity Income
5. Mixed Investment 40-85% Shares