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Specialist spins out of top spot

The specialist sector’s 19-month table-topping tenure came to an end in August as property and natural resources funds fell out of favour.

Figures from the Investment management Association show that specialist has fallen to third place, behind UK all companies and cautious managed. Specialist net retail sales fell by over 50 per cent on the previous month to £151m from £305m.

UK all companies saw £159m of inflows in August, representing 20 per cent of gross retail sales of UK domiciled funds while cautious managed saw £158m in sales.

Much of the specialist fall was due to slower sales of property funds, which pulled in £117m after a number of firms moved from an offer to a bid basis after seeing an increase in outflows.

The UK corporate bond sector again saw the biggest outflows, losing £151m.

Hargreaves Lansdown head of research Mark Dampier says: “It reflects the sentiment towards property at the moment, although natural resources, among other specialist offerings such as financials, are also likely to have taken their toll.”

Total UK funds under management were £455.5bn, a slight fall from July but a 21 per cent increase on 12 months ago.

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