Net retail sales soar 45% on previous high in 2009

Net retail sales reached their highest level on record in 2009, up 45% on their previous best performance, according to the IMA.

Last year, sales grew to £25.8bn, beating the previous best year's performance of £17.7bn in 2000. It was also more than six times the £3.8bn achieved in 2008. Funds under management also reached their highest volume in 2009, up to £480.8bn from 2008's £361.7bn. ISA sales too recorded their best year since 2001, reaching £2.8bn in 2009. This is in stark contrast to the previous five years which all saw net outflows. A strong performance by M&G catapulted it from seventh to fourth place in a league table of asset managers, with funds under management close to £25bn at year end 2009....