Editor's letter: End-of-season sale

UK equity funds bearing brunt

The old investment adage of “sell in May, go away, come back on St Leger’s Day” was shunned by investors over the summer, with Investment Association figures released last Thursday showing fund inflows for August exceeding £5.3bn.

This marked the first ever time IA retail fund sales have exceeded £5bn during the month, according to the organisation. The IA Global sector proved to be the best-selling sector for the sixth time this year, having seen inflows of £1bn over the month. Schroders revamps UK equities business to meet client need In fact, most sectors fared well. The glaring anomaly was UK equity funds, which saw outflows of £445m, compared to much smaller outflows of £259m in June. The trend continued in September, according to data from Calastone. While most geographical categories of funds saw i...