fund

IA: Equity funds hit 18-month inflow high in July


Net retail sales hit £1bn for the month, with mixed assets and fixed income strategies posting inflows of £861m and £520m, respectively.

Premier Miton calls for increased ISA allowance to boost UK investment

North American equity funds had a third consecutive month of outflows, losing £1.4bn between May and July, while money market was the asset class with the highest level of outflows for the month, at £912m.

Tracker funds continued their positive trajectory, with £702m inflows in July. Their funds under management stood at £301bn at the end of month, representing an overall 21% share of industry FUM.

Responsible investment funds instead experienced the opposite trend, reporting £39m net retail outflows.

The £ Corporate Bond sector was yet again on top for the month with net retail sales of £287m, the IA found, followed by Volatility Managed (£251m); Global Equity Income (£243m) and Corporate Bond (£209m).

The worst selling IA sector for July 2023 was UK All Companies, which experienced £710m in outflows.

Calastone: ESG funds suffer record £953m outflows in August

Chris Cummings, CEO of the Investment Association, said: “As the rate of inflation starts to fall more markedly and recession expectations moderate, sentiment is becoming more positive. While investors had been reducing their investments in recent months amid a very unclear economic outlook, July saw net sales of just over £1bn.

“Equity, fixed income and mixed asset funds all benefited from this renewed optimism, with inflows into equity funds reaching £816m – the highest since December 2021.” 

Readers Also Like:  Mutual fund monthly SIP is Rs 23,000 crore or Rs 9,000 crore? AMFI CEO clarifies



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.