Flows into European and global equity funds helped push net retail sales to a record high for August of £3.6bn, according to the latest Investment Association figures.
This was a significant jump from £1.9bn recorded last August in the aftermath of the Brexit vote. Chris Cummings, CEO of the IA, said: "Investor confidence in the UK fund industry continued in August with yet another record breaking month of inflows. Net retail sales were £3.6bn, the highest selling August on record. Funds under management (FUM) also grew to almost £1.2trn." Every asset class experienced inflows during the month as investor confidence grew. Equity funds saw the highest net retail sales for the month on £1.1bn, with mixed asset close behind also recording inflows of £1...
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