Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Appetite for equity undimmed as fund sales rise tenfold

Appetite for equity undimmed as fund sales rise tenfold

More than £2.3 billion of fund purchases were executed within ISAs through the bull market of 2013/14, an increase of more than £1 billion on 2012/13.

Despite the breakdown into greater volatility at the end of the period, retail investors showed no sign of flagging interest, investing £358 million in the last five days of the tax year.

The figures, released by the UK Investment Management Association, showed that UK funds managed a total £748 billion at the end of the period.

Overall net sales in March stood at £2.3 billion, a month-on-month increase of more than £400 million, with equity funds sales of £952 million 10 times the comparable figure in March 2013.

‘This demonstrates consistent retail appetite for investment funds,’ said Daniel Godfrey, chief executive of the IMA (pictured).  

‘The sector rankings show strong sales across a wide range of asset classes, but equity funds with an income bias remained popular.’  

UK equity was the best-selling region with net fund sales of £542 million followed by global on £448 million. Investors redeemed a net £221 million from Asian equity funds in the month, followed by £50 million from US funds in the month.

The highest-ranked fixed income class was Sterling Strategic Bond, with net sales of £240 million.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: Brewin's Cardiff boss on the Welsh opportunity

Profile: Brewin's Cardiff boss on the Welsh opportunity

Prior to becoming head of Brewin Dolphin Cardiff, Welshman David Myrddin-Evans had only previously visited the city to watch the rugby.

Wealth Manager on Twitter