IMA: £1bn invested every month in 2012
The Investment Management Association (IMA) has revealed more than £1 billion has been invested every month in 2012.
The asset manager trade body’s sales figures for May - which witnessed net retail sales of £1.2 billion - confirmed the popularity of the fixed income asset class, as it hit a nine consecutive months as the asset class with the highest net retail sales.
Fixed income funds saw net retail sales of £819m, with the second highest selling asset class - the money market sector - reporting net sales of £164m. However, this was offset by net outflows in the equity funds sector of £129m, the first net outflow of 2012 for the asset class.
Funds under management dropped to £586.3 billion, compared with the £603.9 billion under management in May 2011. Sales of individual savings accounts slumped to £131m, from £539m over the same period.
The IMA £ Corporate Bond sector was the best selling sector in May with sales of £481m, followed by the IMA £ Strategic Bond and IMA Short Term Money Market sectors.
Richard Saunders, chief executive of the IMA, says: “Investors have continued to add more than £1 billion to their fund holdings every month so far in 2012. This is an encouraging level of sales, particularly after the slow second half of 2011.”
He adds: “Equity fund sales continue relatively flat, though within that we saw demand for global and North American funds offset by redemptions of certain Far East and European funds.”
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