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Corporate bonds continue to top sales, IMA stats

The corporate bond sector has topped sales for UK domiciled funds for the eight month in a row, according to the latest figures from the Investment Management Association.

The sector took £533.3m in June 2009, down on the £717.9 taken in May 2009.

The biggest outflow came from the money market sector with a fall of £13.4m.

Total net retail sales stood at £2.5bn in June, down on the £2.8bn for May but up on the £126.8m in June 2008. Equity funds accounted for £990m of the money invested in June, with £897m from bond funds.

Funds under management took a marginal fall from £391.3bn to £389.3bn in June 2009. The figure is down 9 per cent on the £425.6bn in June 2008.

IMA chief executive Richard Saunders says: “Investors have been coming back to the market in recent months and June saw a continuation of this trend. Retail investors have begun over the last two months to put money into equity funds, particularly international equities, as well as bond funds. As a result net retail sales in the second quarter were the highest on record and net ISA sales the highest for six years.”

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  1. Corporate bonds continue to top sales, IMA stats
    We all tell our clients that investments into Unit Trusts are a medium to long term proposition, the longer the better. And yet, when there’s a downturn in equity markets ~ the best time to buy equities ~ advisers seem to start thinking short term and recommending just what looks like it might do better than equities over the coming one or two years. What will happen to these new Fixed Income portfolios when interest rates go back up and equity markets take off again? They’ll get left behind.

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