UK retail investors ploughed more than £2bn in equity funds during July marking the highest sales tally for the asset class since April 2000 according to new figures from The Investment Association.
The fund management trade body’s analysis showed that overall, retail fund sales hit £3bn over the month, the highest since April 2014.
Mixed Asset was the second best-selling fund type with a £432m tally, while Property funds also remained popular, at third best-selling, with net retail sales of £293m.
UK equity funds were the best-selling in July with net retail sales of £943m – almost double the level seen in the previous month and the highest since March 1999 when they notched up £1.2bn. Europe was the second best-selling region for equity funds with net retail sales of £532m, while global equity funds were the third with £338m.
Asian equity funds were the worst-selling in July with net retail outflows of £151m.
Daniel Godfrey, The Investment Association chief executive, said: “Following investor hesitancy seen so far in 2015, confidence returned in July with the highest net retail sales for over a year.
“Although it remains to be seen what impact August’s volatility has on fund sales, retail investors had a strong appetite for equities in July, particularly UK equity funds which saw their highest net sales in over fifteen years.”
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