Fund sales drop

Last month net sales of investment funds to both retail and institutional investors fell significantly compared with the same period last year according to the latest statistics from the Investment Management Association.

Morningstar.co.uk Editors 26 May, 2004 | 6:06PM
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In April retail investors bought a net £702m of investment funds, down from £1,047m in April 2003. Net sales of Individual Savings Accounts also fell.

Meanwhile, net sales for institutional investors were negative last month. Overall these investors redeemed £129m worth of funds.

Generally, retail investors bought British during April. The UK All Companies sector was the most popular choice in terms of net retail sales, followed by UK Corporate Bond, UK Equity Income and UK Other Bond. The Japan sector rounded out the top five.

Institutional investors also favoured the UK All Companies and UK Equity Income sectors. UK Money Market and Global Emerging Markets funds were their least favourite in terms of net sales.

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