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IMA sales fall to lowest level since last January

Anna Fedorova
Written By:
Posted:
30/09/2014
Updated:
30/09/2014

The latest retail sales figures published by the Investment Management Association (IMA) have revealed a fall in inflows to a level last seen in January 2013.

Net retail sales slowed down to just £695m in August this year, compared to the £1.85bn seen last August.

UK Equity Income remained the best-selling sector for the third consecutive month, with net retail inflows of £376m.

This was followed by the Property sector, which saw £242m of net new money, and the Mixed Investment 40-85 per cent Shares sector, which attracted £159m of inflows.

However, inflows were subdued across all asset classes, and UK equity income inflows were offset by outflows elsewhere, most notably the UK All Companies sector, which saw £258m of outflows.

Daniel Godfrey, IMA chief executive, said: “Retail investors again favoured equity income funds in August despite the fact that overall sales and, in particular sales of equity funds, were lower than in recent months.

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“It is too early to judge whether the lower retail sales in August represent a change in the trend of strong sales this year.”

Net retail sales for this year to end of August have totalled £15bn, outstripping the £12bn attracted by retail funds in the first eight months in 2013.