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Corporate bonds still top of IMA sales stats

Corporate bonds were the most popular sector for the third month running, according to January figures from the Investment Management Association.

The sector represented 23 per cent of gross retail sales of UK domiciled funds in January with 88 per cent of gross retail sales via intermediaries.

Inflows were £1bn with the biggest outflows suffered in the Europe excluding UK sector which lost £212m.

Funds under management of UK domiciled investment funds have dropped 2 per cent in January, down to £354.2bn from £360.7bn the previous month.

UK domiciled Isa funds under management of £70.8bn are 4 per cent down on December’s figure of £73.6bn and 15 per cent lower than the previous year.

Net sales of UK domiciled investment fund Isas slowed with inflows of £1.4m compared to inflows of £52.3m in December but performed better than January last year which saw outflows of £335.3m.

UK domiciled net retail sales of £1.2bn were made up of £1.4bn in bond funds and equity outflows of £202m.

Overseas funds under management took a hit in January, falling 5 per cent on December to £15.2bn. Overseas Isa assets also fell 7 per cent on the month to £229m.

Chief executive Richard Saunders says: “”Over the last three months investors have been adding to their holdings at a significant rate, with bond funds doing particularly well in December and January. And while ISA sales were modest compared to December, they were still a marked improvement on previous months’ sales outside of the ISA season.”


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