Fund supermarket sales jump 64%

Investors made £141m of net sales through fund supermarkets in April according to the latest figures from the Investment Management Association. This was up from £86m in March.

Morningstar.co.uk Editors 27 May, 2003 | 4:21PM
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Net retail sales of investment funds rose strongly in April, up 42% from the previous month. The run-up to the end of the tax year in the beginning of April tends to increase sales figures as investors scramble to use their Individual Savings Account allowance.

In total, retail investors accounted for about £1.05 billion of net sales. Yet these improved figures were down from April 2002 when net retail sales hit close to £1.4 billion.

Total funds under management exceeded £200 billion for the first time since November 2002. But this is still down considerably from the £261 billion year end figure for 2000.

The UK Corp

orate Bond sector was the best selling retail sector with over £501m of net sales. UK Equity Income followed with £143m. Funds in the Europe excluding UK and Japan sectors had the worst retail sales.

Institutional investors preferred the Global Bonds and Global Growth sectors while funds investing in the Far East had the worst institutional sales.

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