UK equity is top asset class
New data from the Investment Management Association shows a “big improvement” in sales of UK equity income.
IMAsaid April net retail sales stood at over £2 billion, close to last year’s level and a big improvement on the previous month, “showing that investors continue to look for diversity”.
UK equity income had net retail sales of £358 million, the highest sales for this sector since April 2007. The last time it was the best-selling sector was in November 2012.
UK fund platforms continued to see record level gross retail sales at £6.5 billion, representing a 52% market share (48% in April 2012).
Gross retail sales for Other Intermediaries (includes Wealth Managers, Stockbrokers and IFAs) totalled £4.9 billion in April 2013, a market share of 39% (36% in April 2012).
Direct gross retail sales in April 2013 were £1.2 billion, representing a market share of 9% (17% in April 2012).
Daniel Godfrey,
IMAChief Executive, said:
“Total funds under management are up nearly 20% on last year at £726 billion.
“Equity returned as the leading asset class with UK equity funds seeing a turnaround from negative to positive sales in April.”
Global equity funds remain the best-sellers by far with net retail sales of £432 million in April 2013. This region has consistently been the best-selling for equity funds since June 2012.
UK equity funds were the second best-sellers with net retail sales of £275 million – the highest since August 2011 and a contrast to the £427 million net outflow seen in March 2013.
North America was the third best-selling sector with net retail sales of £98 million in April 2013 – the highest since May 2012.
Japan was the only equity fund region to experience a net outflow in April 2013
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