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.”