You are here: Home - Investing -

Sales of tracker funds hit record highs in October

Written by:
Retail investors poured £448m into tracker funds last month, the highest level ever recorded, figures reveal.

According to the October sales figures from the Investment Management Association (IMA), tracker funds now account for 9.6% of total funds under management, compared with 7.8% a year earlier.

Elsewhere, equity funds remained the best-selling asset class for the seventh consecutive month, with net retail sales of £976m.

Mixed asset funds were the second best-selling asset class, notching up sales of £343m.

Sales of property funds increased for the ninth consecutive month, reaching £223m, the highest level since April 2010.

Total net retail sales remained strong at £1.9bn, an increase from £1.1bn in October 2012. Funds under management totalled £765bn, a 20% increase from October 2012.

Meanwhile, September’s favourite sector, UK Equity Income, saw outflows of £298m over October making it the worst selling for the month.

The UK All Companies sector took the top position in October, with net retail sales of £307m, the first time the sector has been the best-selling since April 2004.

“It was another strong month for fund sales with retail investors continuing to favour equity funds. Net retail sales of these funds have totalled £9.1 billion so far this year, on course for their best year since 2000,” said Daniel Godfrey, chief executive of the IMA.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week