Property concerns make Specialist funds lose top retail spot

The specialist sector has lost its position as most popular retail sector, according to data from the Investment Management Association (IMA). The sector’s 19-month reign at the top of the net retail sales chart ended in August as investor appetite for commercial property took a downturn.

But despite well-publicised concerns from some firms over outflows from their property unit trusts this summer, the specialist sector recorded a net retail inflow of £153m in August, of which £117m was in property funds.

Only UK All Companies and Cautious Managed achieved better retail inflows, of £159m and £158m respectively.

Elsewhere, net British-domiciled investment fund Isa sales suffered, with just £38m. This was 58% less than July and 30% down on August 2006. The most popular Isa sector, in terms of net sales, was Cautious Managed.