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Equities sales hit two-year high as bond struggles continue

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Net retail sales of equities have hit a two-year high in February as investors continue to move money out of fixed income, according to figures compiled by the Investment Management Association.

Equity funds reached net retail sales of £940m in February, the highest level since the £1.2bn recorded in April 2011.

Four of the top five best-selling sectors were equities while the fixed income sector continued its downward trend having recorded a net outflow of £163m in February 2013, the highest level seen since July 2008.

The IMA Mixed Investment 20-60% Shares Sector was the most popular in February with £232m in net retail sales. The Asia Pacific ex-Japan and UK Equity Income sectors, were second and third with sales of £194m and £169m respectively.

The IMA £ Corporate Bond sector was the least popular sector in February 2013 with a net retail outflow of £220m. The monthly average for the sector over the past 12 months was an inflow of £112m.

Bestinvest managing director for business development and communications Jason Hollands says: “It has been our view at Bestinvest for some time that equities offer considerably better value than fixed income and shares are also relatively attractive from a yield perspective. This combination of attractive valuations and yields underpins a more positive investment outlook for the medium term.”

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