The corporate bond sector saw outflows a the end of the last year, while European and UK equity funds were the big winners, as investors built more risk into their portfolios.
The corporate bond sector experienced net retail outflows of £149 million in November, according to the Investment Management Association's latest monthly figures.
Meanwhile, equity was the best selling asset class for the eight consecutive month. The UK was the most popular equity region, with net retail sales of £409m, seconded by £240m sales in Europe. The only equity region to lose out was North America, with an outflow of £63 million.
Overall, funds under management grew by an annualised 16% in November, to £763 billion
“We saw a continuation of strong investment fund sales in November last year – the top five best-selling IMA sectors indicate that investors are favouring equity and mixed asset funds with property funds also doing well.” Daniel Godfrey (pictured), IMA Chief Executive said.
Property was the third biggest selling IMA sector, with net retail sales of £212 million, 'well above' the sector's monthly average of 95 million for the previous 12 months, the trade body said.