April’s net retail sales hit £2.1bn, says IMA
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Net retail fund sales exceeded £2 billion in April, the highest level since April 2011, reports the IMA. Of the £2.1 billion in retail sales recorded for April, Isa sales accounted for £1.3 billion.
According to the IMA, in the new tax year, which started on April 6, there have been £1 billion in inflows to Isas.
Total retail funds under management in April reached £607.3 billion - an increase on the £605.2 billion reported in April 2011. (article continues below)
The IMA £ Corporate Bond sector was the most popular sector in April for the fourth time in five months, with net sales of £277m. The fixed income asset class was the most popular, generating net retail sales of £599m.
The Mixed Investment 20-60% Shares was the second most popular sector overall, with £257m in net sales. However, the former Cautious Managed sector was the most popular for Isas, with net retail sales of £131.5m.
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