Investment funds retail sales reach record highs - IMA

Net retail sales of investment funds have reached record highs for the second consecutive month, acc...

Net retail sales of investment funds have reached record highs for the second consecutive month, according to IMA statistics. Richard Saunders, chief executive at the IMA, said the over £1.6b in net retail sales for October sets a high for inflows and is up more than £1b on the same month in 2005. Of the £1.6bn, £1.1b was invested in equities, with £379m invested in property funds and £254m invested in bonds. Business through intermediaries also saw record inflows, accounting for 86% of gross retail business. This reflects the growing market importance of fund supermarkets and other p...