Retail fund sales up in July

Net retail sales of investment funds reached £594.4m in July compared with £526.5m last July according to the latest monthly sales figures from the Investment Management Association.

Morningstar.co.uk Editors 27 August, 2002 | 5:08PM
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But over the same period there was a huge drop in net institutional sales at £211.9m compared with £1,170.0m last July.

The most popular sectors in the retail market were similar to last month with the UK Corporate Bond sector and UK Equity Income coming top. The least popular sectors were Global Emerging Markets and UK Smaller Companies.

There also seems to be a trend for retail investors to buy through an adviser rather than direct from a fund group. Direct sales were at their lowest level since July 2001.

The Far East excluding Japan sector showed a marked divergence between retail and institutional sales. While net retail sales were at £20m in the institutional market it was the least popular sector with almost a negative £100m of net sales.

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