UK fund sales break July record despite Brexit fears on equities

Great_BritainNet sales of UK funds reached £3.5 billion (€3.9 billion) in July, the highest ever recorded for the month despite a move away from UK equities by retail investors.

Figures published by the UK’s Investment Association show that fixed income was the best–selling asset class in July with net retail sales of £1 billion.

Mixed asset fund sales were the second best-selling asset class with net retail sales of £958 million, while equity funds achieved sales of £924 million.

However investors continued to abandon UK equities over Brexit concerns with £214 million being pulled from the UK All Companies sector and £86 million from UK equity income products.

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