The sector took 23 per cent of gross retail sales of UK-domiciled funds in January, with 88 per cent through intermediaries. Inflows were £1bn while the biggest out-flow in January was suffered by the Europe excluding UK sector, which lost £212m.
Net sales of Isas slowed, with inflows of £1.4m compared with inflows of £52.3m in December but better than in January 2008 which saw outflows of £335.3m.
Funds under management of UK-domiciled investment funds dropped by 2 per cent in January to £354.2bn from £360.7bn in December.
Isa funds under management of £70.8bn were 4 per cent down on December figures of £73.6bn and 15 per cent lower than January 2008.