Net retail sales of UK funds exceeded £1 billion for the eleventh month in a row in February, with equity funds leading inflows in all eleven months.
The net retail sales of £1.8 billion (€2.2 billion) combined with a net £921 million in institutional inflows brought funds under management to £783 billion, according to the figures from the Investment Management Association (IMA).
“Strong fund sales continued in the second month of 2014 with investors continuing to favour equity funds,” says Daniel Godfrey, chief executive, IMA. “UK equity funds in particular are seeing the best net retail sales for some time.”
The UK figures mirror an effect seen around the world in the past year, in which money flowing into equity funds has helped to drive significant growth in developed stock markets.
Bonds have largely been left behind in this drive to pump money into stocks. In the UK in February, the best-ranked fixed income category, strategic bond funds, came only fifth in terms of inflows.
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