Gross platform sales hit UK record

Gross fund sales on UK platforms had their best year in 2017, according to industry figures.

The amount of gross sales reached a “record-breaking” £126 billion (€142 billion) – a 34% rise on the previous year fuelled significantly by the UK’s ‘pensions freedoms’.

Annual net sales were described by Fundscape, which provided the data, as “robust”, with £55.9 billion representing a 46% increase on 2016.

Total assets on platforms rose by £103 billion, or 21%, aided by markets

Fourth quarter sales, however, missed breaking a record, though nevertheless the period recorded its second best sales volume with £33 billion of gross flows.

©2018 funds europe

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