The corporate bond sector has continued to be the most popular UK-domi- ciled net retail sector, according to the latest figures from the Investment Management Association.
The sector took £684.3m of net business in April, down from £935.1m in the previous month. The biggest outflows were in the global emerging markets sector at £243.1m.
Of the total £2.1bn net retail sales, £1bn was invested in bond funds while equity funds took in £579m. Institu- tional holdings of unit trusts and Oeics saw an outflow of £69m.
Chief executive Richard Saunders says: “Retail sales continued the strong showing of 2009 so far, with inflows to bond funds in April exc- eeding £1bn for the fifth consec- utive month. The figures also confirm that April saw the highest Isa sales in three years.”