Net retail sales of £863.0m in July 2003 were over 50% up on the equivalent month last year. Last month’s sales were also only slightly down on the figures for June despite the fact there is normally a seasonal decrease over the summer.
By far the most popular sector among retail investors was UK Corporate Bond. Net sales of £422.4m accounted for nearly half of the month’s total sales.
The next most popular sectors were UK Equity Income with £152.0m, Far East Excluding Japan with £97.1m and UK All Companies with £77.3m. Japan is rapidly climbing up the list with sales of £19.8m last month compared with redemptions of £2.0m the pr
evious month.
Europe Excluding the UK was easily the least popular sector with net redemptions of £74.5m. UK Money Market was next with net redemptions of £26.7m.
The intermediary channel was by far the most popular with £596.6m of retail net sales. In contrast, investors withdrew a net £75.1m from the direct public channel.
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