Equities lead fund sales for third month in a row - IMA

Equities were the best-selling asset class for the third month running in November, according to the latest IMA sales figures.

Investment Management Association figures for November show net retail sales of £720m for equities. This is the highest figure since April 2011, when the asset class attracted £1.25bn. The continued inflows into equities suggest a return of investor risk appetite as their confidence in the global economic backdrop improves. Equities began seeing significant inflows back in September, with net retail sales of £541m that month. This was well above the average of $65m outflows over the previous 12 months, and the first time in the last 12 months any asset class surpassed fixed income....