Fixed income sales bounce back in October
The Investment Association today publishes its monthly statistics for authorised investment funds forOctober 2015 which show:
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Fixed income fund net retail sales back in the black for the first time since April at £109 million
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Equity continues to be the best-selling asset class for the sixth consecutive month with net retail sales of £710 million
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Targeted Absolute Return returns as the best-selling sector with net retail sales of £424 million
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Tracker fund net retail sales were the lowest since December 2013 at £204 million
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Total net retail sales of £1.2 billion
Guy Sears, Interim Chief Executive of the Investment Association, said:
"Net retail fund sales stood at £1.2 billion in October, mainly driven by continued investor appetite for equity funds but we also saw fixed income products recover and hit a six month high.
"Targeted Absolute Return was the best-selling sector for the third time this year, and mixed asset funds were the second best-selling asset class suggesting many investors looked to fund manager wisdom for asset allocation."
