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Bond fund sales bounce back in October

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Sales of fixed income funds moved back into the black last month for the first time since April.

According to data from the Investment Association, bond funds attracted £109m of investor money in October, halting six-months of large outflows, including £515m in September.

Equities were the best-selling asset class for the sixth consecutive month, with net retail sales of £710m.

Mixed Asset came in second bringing in £220m. Guy Sears, interim chief executive of the Investment Association, said this suggested “many investors looked to fund manager wisdom for asset allocation.”

Property was the third best-selling with net retail sales of £135m.

Elsewhere, sales of tracker funds fell to their lowest level since December 2013, attracting £204m.

The total assets under management in tracker funds was £107bn as at the end of October 2015. Their overall share of industry funds under management was 12.4%, compared with 10.9% in October 2014.

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