July sales figures easily outstrip March

Fund sales for July 2003 were triple those recorded in March, traditionally the high point of the ye...

Fund sales for July 2003 were triple those recorded in March, traditionally the high point of the year as investors rush to use their outstanding Isa allowance. While for many groups July and August were the strongest sales months of the year so far, in line with rising markets and improving sentiment, the majority said these improvements were from a low base after more than three years of bear market conditions. According to figures from the IMA, total net sales hit £1.42bn in July compared to £476m in March.