UK equity funds at highest level of quarterly AUM since 2000

Made in UKSales of UK-domiciled equity funds continued to climb for the sixth month in a row driven by retail investors as institutions pulled money out of funds, according to September data. The Investment Management Association (IMA) recorded net retail equity fund sales of £1.3 billion (€1.5 billion) during the month, which put the asset class at its highest level of quarterly assets under management – £3.8 billion – since the second quarter of 2000. Institutions withdrew a net £1.2 billion from UK-domiciled funds across different asset classes. In retail sales, equities took the largest share of the £2.2 billion net flows in September. Sales for the entire quarter for all types of funds totaled £6.3 billion and were the highest since Q2 2011. Funds under management reached £739 billion – an increase of 17% from September 2012 and up 93% since September 2008. UK equity income was the best-selling IMA sector. ©2013 funds europe

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