UK assets under management up 20%

Increase graphAssets under management in the UK rose 20% in the past year to reach £765 billion (€920 billion) at the end of October.

Although institutional investors withdrew £568 million from funds in October, retail investors allocated an additional £1.9 billion, statistics show.

Equities were the best-selling asset class for the seventh consecutive month, says the Investment Management Association, a trade group that produced the figures. Retail sales alone were a net £976 million, says the data.

Among institutional investors, specialist funds sold best while UK All Companies funds sold worst.

Yet UK All Companies was the best-selling sector and UK Equity Income the worst-selling one among retail investors.

©2013 funds europe