Outflows from UK Equity funds halved in November, according to the latest statistics from the Investment Association (IA), while tracker funds saw their lowest sales since July 2016.
The trade body's monthly statistics showed funds under management were £1.2trn, up from £1trn in November 2016, and total net retail sales were £4.4bn, down from £5bn in October but significantly up from £1.7bn a year ago.
Some £713m was invested in equity funds, particularly the Europe ex UK, Global and Japan sectors.
UK equities saw an improvement from October with outflows from UK All Companies and UK Equity Income funds of £203m compared to £496m in October.
However, this did not stop the UK Equity Income sector from being the second worst-selling sector with outflows of £121m. This was preceded by the Specialist sector which saw outflows of £444m.
In total, eight IA sectors saw outflows during the month.
Sterling Strategic Bond funds were the top-selling sector for the fourth consecutive month with sales of £1.5bn, down slightly from sales of £1.6bn during October.
This was followed by the Mixed Investment 20%-60% Shares sector in second place which saw inflows of £305m and Europe ex UK which reported inflows of £290m.
Tracker funds saw their lowest inflows since July 2016 with sales of £171m in November. This compared to sales of £627m in October and more than £1.1bn a year ago. Equity trackers, in particular, saw outflows of £139m.
Chris Cummings (pictured), chief executive of the Investment Association, said: "UK retail investors showed continued confidence in the investment funds industry in November. Although slightly lower than in previous months, net retail sales were once again strong at £4.4bn."
Nairn returning to Franklin Templeton
Brett hires former Aberdeen colleagues
'Every company must make a positive contribution to society'
Five new entrants to table
Moving to segregated mandates