Woodford launch sends IMA UK Equity Income sales to record high
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.