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Bond sectors dominate sales, IMA stats

Over half a billion pounds was invested across the leading bond sectors in February, according to figures from the Investment Management Association.

The IMA corporate bond sector was the biggest seller for the second successive month, with £254m of net retail sales. The figure is down on the £303m taken in January, but well above the monthly average of £77m in the past 12 months.

Strategic bonds and global bonds were the second and third bestsellers with £148m and £140m respectively.

UK all companies was the poorest selling sector, having seen outflows of £250m. This was followed by the flexible investment and Europe ex-UK sectors, which saw outflows of £189m and £139m respectively.

There was a total of £1.1bn of net retail sales in February 2012, the highest level since August 2011, bringing total funds under management to £615.4bn.

Fixed income was the leading asset class with £553m of sales in February with equities recording £249m of net retail sales. Mixed assets net retail sales fell to £123m, its lowest monthly return since March 2009.

IMA chief executive Richard Saunders says: “Fixed income funds continue to be the most popular asset class. Equity sales were also positive in February following outflows in four of the past five months.”

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