View more on these topics

UK equity fund sales reach 16-year high

UK-Currency-Money-Pound-GBP-700x450.jpg

Investors flocked to UK equity funds in July with sales reaching their highest level for 16 years, according to the latest figures from the Investment Association.

The best-selling region in July, UK equity funds saw net retail sales of £943m, almost double the level in June and the highest since March 1999 when sales reached £1.2bn.

Meanwhile, money poured out of Asian equity funds, the worst-selling region in July with net retail outflows of £151m.

However, equity fund sdales across all geographies reached a 15-year peak at £2bn, seeing the highest level since April 2000.

Total net retail fund sales were also at the highest point since April 2014 at £3bn, up from £2bn year-on-year.

At a sector level, UK equity income ranked highest for sales in July with net retail sales of £611m, while the worst-selling sector was the sterling strategic bond sector with net retail outflows of £140m.

Investment Association chief executive Daniel Godfrey says: “Following investor hesitancy seen so far in 2015, confidence returned in July with the highest net retail sales for over a year.

“Although it remains to be seen what impact August’s volatility has on fund sales, retail investors had a strong appetite for equities in July, particularly UK equity funds which saw their highest net sales in over fifteen years.”

Recommended

EU-Euro-Europe-Eurozone-700x450.jpg

Ukip to launch own EU referendum campaign

Ukip will launch its own campaign against joining the EU rather than joining one of two existing No campaigns, the BBC reports. According to the BBC, party leader Nigel Farage believes the two existing campaigns – one led by politicians in Westminster and the other by businessmen – do not have Ukip’s “political nous” and […]

1

MM leader: The next big money spinner for providers

Non-advised drawdown is fast becoming the next big money spinner for providers left bereft of the wall of annuity cash to which they were accustomed. In typically humble terms, providers talk of non-advised drawdown being their “fastest selling solution ever”, with thousands of customers flocking to the products since they came to the market over […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment