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Retail fund sales climb to hit 31-month high

Retail investors are flooding back into the market, with net retail fund sales hitting a 31-month high in November.

The Investment Management Association says net retail sales rose to 948m from 369m in November 2004 – an increase of more than 250 per cent. Net Isa sales were also up to 79m from 51m year on year.

Funds under management in the UK hit an all-time high of 333bn in November, up by 24 per cent from 268bn the previous year, reflecting rising markets and strong retail sales.

However, large-scale institutional redemptions meant that the industry saw total net redemptions of 1.5bn for the month.

More than 50 per cent of retail money was invested in equities and 23 per cent in bonds. The most popular sector was UK all companies, representing 19 per cent of gross retail sales.

Eighty per cent of gross retail business was conducted through intermediaries.

Chief executive Richard Saunders says: “Net retail sales of investment funds reached a 31-month high in November as investors continued to return to the markets, with sales of Isas continuing at a modest but steady level.”

NeedAnAdviser director Jo Roberts says: “A lot of people are investing at the moment. The markets have corrected themselves and people’s confidence has grown, which, combined with lots of new products, is leading to more interest. December’s figures will be lower, of course, as people spend the money on Christmas presents but we expect this upward trend to contin

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