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UK retail sales drop £400m in May


Net retail sales of UK funds fell £400m in the year to May, down to £1.5bn from £1.9bn, according to the latest Investment Association figures.

Fixed income funds fell from being the best-selling asset class in April 2015 to becoming the worst-selling in May, with their first outflow since January 2014 at £162m.

Equity retail funds were the best-selling in May with net sales of £802m, the highest figure since December 2014. This is in contrast with the previous month’s figures which showed outflows of £92m from equity funds.

UK equity funds, in particular, helped the big turnaround, recording inflows of £284m compared to £2m average outflows seen one year ago, while in March UK equity funds saw the largest ever net retail outflow of £963m.

As for the best-selling sector, UK Equity Income topped the IA ranking with net retail sales of £419m followed by the Targeted Absolute Return sector at £317m.

Investment Association chief executive Daniel Godfrey says investors are more positive on UK equities now that the uncertainty around the election is over.

He says: “UK equity income funds continue to be the driver of inflows, highlighting an ongoing preoccupation with yield among investors in a low interest rate environment.”

Last year was a record-breaking one in terms of sales, with assets under management breaking through £800bn. The total now stands at £899bn up from £807bn one year ago.



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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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