Overall net retail sales for February were £1.2bn with no surprises from bond funds which fared well with inflows of £1.1bn with corporate bonds providing inflows of £854.8m.
Meanwhile equity funds saw outflows of £66m, stemming slightly from the £202m seen in January and institutional holdings of unit trusts and OEICs provided inflows of £1.1bn.
Funds under management of UK domiciled investment funds were £339.2bn, 5 per cent down on the previous month’s figure of £355.2bn and 23 per cent lower than last February 2008’s figure of £442bn.
UK domiciled investment fund Isas sales saw a net outflow of £112.5m compared to a net inflow of £2m in January and an outflow of £179.1m in February 2008.
Meanwhile overseas funds under management of £13.7bn was 10 per cent lower than January’s figure of £15.2bn and 16 per cent lower than £16.2bn in February 2008.
Overseas Isa assets of £214m increased by 6 per cent on January’s figure of £202m but were down 39 per cent on the £353m in February 2008.
IMA chief executive Richard Saunders says: “For the fourth consecutive month investors have been adding significantly to their investment holdings, with bond funds continuing to be the asset class of choice. Investors appear however not to be ready to put new money into equity funds yet.”