The UK saw net retail sales of £2.4bn (€2.69bn) in April – half of which were sales of ISA funds.
"April’s statistics reflect a strong 2011 ISA season, with ISAs accounting for about half the £2.4bn investors added to their holdings,” said Richard Saunders, chief executive at the Investment Management Association (IMA).
Fund platforms reported their highest gross ISA sales on record in April, at £1.3bn.
Equity fund sales surpassed the £1 billion mark twice in the past twelve months
Strategic bond funds was the highest selling sector in April – the fourth month running.
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