Both share and bond-based income funds increased as a proportion of fund sales. In June the UK Corporate Bond sector accounted for 14% of gross retail sales and the UK Equity Income sector 10%.
The Far East excluding Japan sector, bolstered by advice from intermediaries, also did well. It accounted for 6% of retail sales compared with only 1% in June 2001.
But generally share-based sectors had a hard time. Europe excluding UK, North America and UK All Companies all decreased as a proportion of fund sales.
Overall fund sales continued on the downward trend that has become apparent with falling markets. Net retail sales were £577.7m in June 2002 compared with £642.4m in June 2001. Sales in May 2002, at £899.0m, were also much higher than last month but a seasonal downturn is normal in the summer.
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