View more on these topics

Nine-month fund sales smash record for full year

Equities regain lead over bonds with absolute return taking over as the top sector for retail business

Retail sales for investment funds this year have set a new record, according to latest Investment Management Association figures.

Net retail sales of £2.7bn in September pushed the total for the year to date to £18.7bn, beating the previous record for the whole of 2000 of £17.7bn. Equities have overtaken bonds as the most popular asset class as net retail sales of £995m for equities were well ahead of the £566m for bonds in September.

September’s strong returns also saw retail sales of equities outstrip bonds over a quarterly period. Equities took £2.4bn compared with £2.1bn in bonds in the third quarter, the first time that equities have outsold bonds over a quarter since 2007.

Total UK-domiciled funds under management now stand at £463.4bn, the highest they have been since December 2007 when funds stood at the £467.8bn mark.

The latest figures also mark an end to the IMA corporate bond sectors’ 10-month reign as the highest selling sector. Absolute return funds are the biggest-selling sector with £442.4m of net retail sales. Corporate bonds are second with £323.5m.

Property funds come in third, continuing their renaissance with £261m of net retail sales in September 2009, more than double the £129m taken in August and the highest since the £307m in sales June 2007.

IMA chief executive Richard Saunders says: “Investors are showing an increasing interest in equity funds after a period in which bonds have dominated. The geographic spread is wide, with significant flows into funds investing other than in the UK.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm