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IMA stats reveal continued absolute return demand

Absolute return funds continued as the most popular retail sector in August, according to figures from the Investment Management Association.

The products topped the sector inflows list for the third month in succession taking in £150.3m of assets, down from the £214m taken in July.

Property funds again saw netail retail outflows, losing £42.4m, while the Europe ex-UK sector was the biggest faller with £143m of outflows.

Net retail sales reached £90m, down from £741.1m taken in 12 months ago. This was largely driven off the back of absolute return funds, while equity funds saw an outflow of £344m.

Funds under management of UK domiciled fund were up 3 per cent from the previous month to £426.5bn, but down 7 per cent from 12 months ago.

IMA chief executive Richard Saunders says: “August’s figures are an improvement on the retail outflow in July, albeit a modest one. Investor sentiment remains cautious during this time of volatility with Absolute Return funds continuing to be the most popular sector.”

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