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Corporate bonds continue to dominate sales, IMA stats

The corporate bond sector has continued to be the most popular UK domiciled net retail sector, according to the latest figures from the Investment Management Association.

The sector took £683.7m of inflows for April, down from the £935.1m taken in the previous month. The biggest outflows came from global emerging markets at £243.1m

Of the total £2.1bn net retail sales, £1bn was invested in bond funds while equity funds took in £579m. Institutional holdings of unit trusts and Oeics saw an outflow of £69m.

Funds under management of UK domiciled investment funds were £374.9bn in April, up 8 per cent from the previous month but down 17 per cent on the £450.9bn from April 2008.

UK domiciled Isa funds under management of £74.1bn were 9 per cent up on the previous month. UK domiciled investment fund Isas saw a net inflow of £671.4 million in April 2009, up 93 per cent on the previous month’s inflow of £347.7 million and up 44 per cent on the previous year.

Overseas funds under management of £16.7 billion in April 2009 were up 5 per cent on the previous month and previous year.

IMA chief executive Richard Saunders says: “Retail sales continued the strong showing of 2009 so far with inflows to bond funds in April exceeding £1 billion for the fifth consecutive month. The figures also confirm that April saw the highest ISA sales in three years.”

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