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Investors continue to shun Europe, IMA stats

The European ex-UK sector was the least popular for investors in July, according to the latest figures from the Investment Management Association.

Europe ex-UK sector saw outflows of £36.6m with corporate bonds the most popular sector for the ninth month in a row.

Corporate bonds took in a total of £466.6m in July 2009, down on the £533.3m for June.

Total net retail sales stood at £2.3bn in July, down on the £2.5bn from June but up on the £552.8m outflows in July 2008. Bond funds accounted for £829m of sales with £711m from equities.

Funds under management rose to £412.6bn in July, up from the £389bn in June 2009. The figure is slightly down on the £415.1bn from July 2008.

IMA director of markets Jane Lowe says: “Retail sales continue to be robust, with strong inflows seen since late last year. Corporate bonds continue to attract investors; but more recently equity fund sales have also grown and are now almost on par with bond funds.”

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