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UK equity funds see positive inflows for first time in two years

The UK was the top region for equity fund sales in May, reporting net inflows for the first time in more than two years.

Net retail sales of £532m, which marked a “reversal of fortune” for the sector, with  stronger performance in the UK compared with weaker sales in other regions, according to figures from the Investment Association published yesterday.

Global equity funds were the next best-selling with net retail sales of £282m, followed by North America equity funds with net retail inflows of £172m.

However, Asia funds saw net retail outflows of £46m, followed by Japan funds which experienced net retail outflows of £256m.

Europe experienced net retail outflows of £527m.

For more insight into UK equities visit the UK Edge. 

Overall net retail sales experienced a second consecutive month of inflows, with savers placing £1.3bn into equity funds.

But fixed income remained the highest selling asset class for the third month in a row; net retail sales reached £771m.

The figures also showed that tracker funds experienced their highest ever month of net retail sales with £2.3bn inflows.

Investment Association chief executive Chris Cummings says: “UK equity funds saw a reversal of fortune in May, with savers placing £532m into these funds in the first net inflows since April 2017.

“However, overall equity sales remain weak, with significant outflows from European equity funds and also Asian equity funds, in particular Japan, as the ripple effect of trade tensions between the US and China started to be felt. In contrast, mixed asset and bond funds attracted strong inflows.”

In terms of distribution channel, gross retail sales for UK fund platforms totalled £10bn in May. This represented a market share of 42 per cent.

Gross retail sales through other intermediaries including UK IFAs were £7bn – a market share of 29 per cent.

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