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IMA: Fixed income asset class sees first outflows since 2008

Money

The fixed income asset class has seen its first monthly outflow for net retail sales since October 2008 as equity funds had their best month since 2000, according to the Investment Management Association.

Fixed income funds saw an outflow of net retail sales of £85m in January, compared to an inflow of £710m in January 2012.

Equities remained the bestselling asset class for the fifth month in a row with net retail sales of £618m, compared to £252m in January 2012.

Global Emerging Markets retained its position as the bestselling individual IMA sector in January with net retail sales of £223m.

Europe ex-UK and Asia-ex Japan were the second and third bestsellers with net retail sales of £207m and £203m respectively.

UK All-Companies was the worst performer with an outflow of £354m in net retail sales.

Funds under management in January reached a record level of £688bn, up 16 per cent from January 2012.

IMA chief executive Daniel Godfrey says: “As happens most years, net retail sales in January were lower than December. One factor was reduced sales of fixed income funds continuing the decline in these sales that we have seen since last summer. However, retail investor interest in equity funds was strong for the fifth month in a row, with four equity sectors in the top five selling sectors this month. European equity funds had their best month since 2000.”

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