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Equity fund sales tripled in 2013 to reach £20bn

Julia Rampen
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Julia Rampen

UK funds under management hit a record high in 2013, while sales of equity funds tripled from 2012, Investment Management Association data has revealed.

Buoyant sales of equity and mixed asset funds helped funds under management increase 16% to £770bn between 2012 and 2013. Overall, net retail sales soared 43% from £14.3bn in 2012 to £20.4bn in 2013.

Equity fund sales tripled on 2012, with the highest net retail sales since 2000 at £11.4bn.

However, retail sales of fixed income funds plummeted – net outflows of £17m relegated the asset class to fifth place in terms of sales, compared to first in 2012.

IMA chief executive Daniel Godfrey said retail investors were highly active in 2013: “Equity funds took by far the largest share of the net inflows from investors.

“After a number of years with the strongest net sales, fixed income took no new money in 2013. Both mixed asset and property funds saw stronger inflows than in 2012.”