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.