Bond fund retail sales bounce back in October

Back in black for first time since April

Fixed income funds recorded net retail inflows last month for the first time since April at £109m, according to IA figures.

The asset class had suffered net outflows every month since May, including £515m in September. Meanwhile, equities were the best-selling asset class for the sixth month in a row, with net retail sales of £710m. By region, European equity funds topped the overall chart, with net retail sales of £532m, compared to an outflow of £347m at the same time last year. Meanwhile, the top five sectors in terms of net retail sales were: Targeted Absolute Return (£424m), Europe ex UK (£379m), UK Equity Income(£324m), European Smaller Companies (£148m) and Property (£135m).  The worst-selling...