ISAs dominated retail fund sales in April
The Investment Association today publishes its monthlystatistics for authorised investment fundsfor April2015
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ISAs saw net fund sales over £1.4 billion
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Net retail sales were £1.6 billion compared to £3 billion in April last year
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Targeted Absolute Return funds had highest ever net retail sales of £529 million
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Fixed Income funds saw net retail sales of £329 million - highest since October 2012
Daniel Godfrey, The Investment Association Chief Executive, said:
“Net fund sales into ISAs were £1.4 billion in April, an increase of over £200 million from the same time last year, with investors taking advantage of the new tax free allowance.
“Targeted Absolute Return funds were popular in April with their best ever sales figures of £529 million. Meanwhile, retail investors continued to withdraw from UK equity funds favouring European funds instead.”
