The Investment Management Association (IMA) has published its monthly authorized investment fund statistics for May
Key findings include: Net retail sales reached £2.1 billion, equity is the best-selling asset class, and targeted absolute return was the best-selling IMA sector.
Daniel Godfrey, CEO of IMA, said: “After the ISA season months of March and April we usually see a sizeable drop in fund net retail sales but they remained strong in May this year at £2.1 billion … Equity funds received the biggest slice of investors’ funds with global equity income and global emerging markets as the two equity sectors making it into the top five best-selling IMA sectors.”
Funds under management continue to hit record levels at £740 billion in May 2013.
Equity continued as the best-selling asset class with net retail sales of £781 million, compared to an outflow of £50 million in May 2012. Mixed asset funds, fixed income funds, and property funds saw retail sales ranked in that order, with fixed income funds falling sharply from May 2012, while property rose to its highest level since July 2010.
Global equity funds remain the best-sellers by far with net retail sales of £351 million; North America was the second best-selling sector, reaching its highest net retail sales since March 2011 with net retail sales of £146 million.
The top selling IMA sector was Targeted Absolute Return (net retail £255 million), the second time the sector has been the best-seller, with March being the first. The next best-selling sectors were Mixed Investment 20-60% Shares, £ Strategic Bond, Global Equity Income and Global Emerging Markets, in that order.
Funds under management for Fund of Funds continued to reach record levels as at the end of May 2013 at £81 billion, accounting for 11.0% of industry funds under management. Net retail sales were £350 million. Tracker funds saw net retail sales of £256 million, ethical funds £22 million, and overseas domiciled funds £133 million.
IMA Reports Strong Net Retail Sales For May
The Investment Management Association (IMA) has published its monthly authorized investment fund statistics for May. Key findings include: Net retail sales reached £2.1 billion, equity is the best-selling asset class, and targeted absolute return was the best-selling IMA sector.