The IMA UK Equity Income sector saw net retail outflows of £298m in October, according to data released by the IMA today, making it the worst selling sector on the month.
The outflows, which came during the month in which Invesco Perpetual's Neil Woodford announced his departure, represent a sharp reversal of recent trends. The sector had been the top-seller in September, with net sales of £358m, while average monthly net retail sales over the past year stand at £194m. Woodford's Invesco Perpetual Income and High Income funds saw combined outflows of around £1bn in the weeks following his announcement, but today's figures suggest the money may not have remained within the UK Equity Income sector. By contrast, the UK All Companies sector enjoyed net ...
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