Net retail fund sales surpassed £1bn for the first time in 2016 in April, according to the latest figures from the Investment Association, as the organisation unveils a new way of calculating its monthly data.
The IA's statistics now include sales of funds which are domiciled overseas instead of only UK funds. It has also classified the funds in the Unclassified sector by asset class, the first step in an ongoing update to this sector. According to the IA, there are 11 members that actively market their UK domiciled funds to overseas investors. However, there are 38 firms with overseas investors invested in their UK domiciled funds. All data has been backdated to 2012 for comparision purposes. Alastair Wainwright, fund market specialist at the IA, said: "When looking at funds on a UK dom...
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