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UK All companies funds witness £690m outflow

Funds in the UK All companies sector saw net outflows of nearly £690m in March according to the Investment Management Association, making the sector the least popular among retail investors.

Net retail sales of £ corporate bonds funds meanwhile moved back into positive territory in March, with the sector seeing a £62.5m inflow of funds. In February and January the sector had been the least popular, witnessing a £140m net outflow in February.

Meanwhile, sales of £ strategic bond funds topped the net retail sales rankings for the second month in a row, attracting sales of £476.6m. This is up from the £278m of sales generated by the asset class in February and is considerably higher than the second most popular sector-global Bonds-which generated a net inflow of £295m in March.

According to the IMA, net retail sales in March totalled £1.8 billion-slightly down from £1.85 billion in February. Bonds took over from equities as the highest selling asset class, with £930 million in net retail sales in March, representing around half all net retail sales in the month.

In terms of Isa, the IMA says the 2009-10 tax year proved the highest for Isa sales since 2001-02, with British investors saving £3.5 billion.


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