UK retail funds suffer worst month in history

UK-domiciled retail funds suffered the largest net monthly outflow in history in December last year, ...

UK-domiciled retail funds suffered the largest net monthly outflow in history in December last year, according to an IMA report. Despite this, net retail sales were £9.5bn in 2007, which was the second best year since 2000 according to the association. The year-end report showed that November’s net retail outflow was the first negative month-on-month result in over fifteen years and December’s £377m net outflow was the largest ever. Non UK-domiciled funds available to UK investors were only worth 4% of the total size of the home-domiciled industry. Annual net retail sales of property...