Net sales of fixed income funds reached record highs last year as bonds became the best-selling asset class of 2017, data from the Investment Association shows.
Fixed income funds enjoyed £14.3bn in net retail sales last year including net flows of £979m in December. This came as investors poured a record £63bn into UK-authorised funds overall, bringing total AUM to £1.2trn. Fund market specialist at the IA Alastair Wainwright said "more than half" of fixed income flows went into the £ Strategic Bond sector, which attracted £7.5bn from UK retail investors and was the best-selling IA sector. Sentiment improves towards UK equities while trackers suffer Funds in the IA's Mixed Asset sectors brought in £1.7bn - their highest net retail month...
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