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.

Related Posts

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.

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Three abolishes US roaming charges

Mobile phone operator Three has abandoned roaming charges for customers visiting the US.