Net retail fund sales fell to their lowest level since October 2008 in July while equity funds saw net outflows for the first time in over two years.
IMA figures revealed net retail sales of just £936m for July, down from £2.4bn in July 2010 and well below the monthly average of £2.3bn seen over the past 12 months. The figure is the worst seen since funds saw net outflows in the post-Lehman Brothers panic of October 2008. Equity funds saw net outflows for the first time since February 2009, with investors pulling out £114m, contrasting with an average net monthly inflow of £676m over the past year. Net inflows into Global, Japanese and Asia-Pacific funds were outweighed by redemptions from UK, European and North American funds. ...
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