August net retail sales were their lowest since November 2018, with £1.7bn exiting UK-domiciled funds over the month, according to the latest Investment Association (IA) statistics.
The three major asset classes led the monthly outflows, with equities and bonds losing £1.6bn and £968m respectively, and property following, reporting outflows of £91m. Top-selling mixed asset funds had a better month at £706m of net retail sales, led by IA Mixed Investment 40%-85% Shares, which enjoyed net retail sales of £388m, leading Chris Cummings, chief executive of the IA, to point out that diversification continued to be a "top priority" for savers and investors. He added that risk appeared to be of growing importance, as the Volatility Managed sector saw the second-highest n...
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