You are here: Home - Investing -

Woodford launch sends IMA UK Equity Income sales to record high

Written by:
Net retail sales of UK equity income funds hit a record high of £1.4bn last month, according to the Investment Management Association, as Neil Woodford's new fund provided a boon to the sector.

The £1.4bn figure contributed to overall net retail sales of £2.1bn. Equity funds, meanwhile, were the best-selling asset-class for the 15th month in a row with net retail sales of £1.2bn.

Woodford’s CF Woodford Equity Income fund raised £1.6bn during its offer period last month, though it is not known how much of this amount was retail money.

The sales for the UK Equity Income sector contributed to net sales of £870m for UK equity funds, the highest such figure for 16 years.

However, that figure masks an outflow of £421m for UK All Companies funds in June, making it the worst-selling sector. UK Smaller Companies funds also saw outflows.

Elsewhere, investors continued to flock to the IMA Property sector, with £316m in net retail sales putting it in second place.

Daniel Godfrey, IMA Chief Executive, said: “June was another strong month for retail fund sales with equity funds again doing well. Inflows to the UK Equity Income sector were dominant with £1.4bn of the £2.1bn total net retail sales in June.

“Property funds also continued to be popular, with property the second best-selling asset class in June. Mixed asset funds were not far behind.”

However, investors turned away from US funds, with the IMA North America sector seeing outflows of £140m.


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.

Unfamiliar banks woo savers with top rates…is your money safe?

If you’ve been keeping an eye on the savings best buy tables, you’ll have noticed some unfamiliar names lu...

What the base rate rise means for you

The Bank of England has raised the base rate by 0.25% to 0.5% – following on from the increase from 0.1% to ...

How to get help with your energy bills

The rise in the energy price cap from April will mean millions of households will pay hundreds of pounds a yea...

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