Total investment funds under management climbed to nearly 300m in June, up 19% from June 2004, according to figures from the Investment Management Association.Net retail sales were also up significantly to 447.6m in June, compared with sales of 231m in May. After a net retail outflow of 83.4m in May, equities accounted for 63m of net retail sales in June. Net retail sales of bond funds also continued to rise in June to 258m, up from the previous month’s total of 220m. Net institutional sales, however, saw an outflow of 173.2m in June and total net sales fell to 274m, compared with 875.3m in June of last year. Net Isa sales of 61.8m in June were also down 49% compared with the same period in 2004 and 46% compared with May’s net Isa sales of 114.8m. Intermediaries were again the most popular distribution channel, accounting for 76.2% of gross retail sales, while salesforce and tied agents represented 50% of gross Isa sales. UK Corporate Bond was the best-selling sector for the second month in a row, with net retail sales of 151m. The Cautious Managed sector was ranked second in June, with net retail sales of 113m, followed closely by the UK Equity Income sector. The UK All Companies sector was the worst-selling sector for the first time since February, with net retail outflows of 81.6m. However, it was also the most popular sector in terms of gross Isa sales in June, accounting for 27% of sales as well as 20% of gross retail sales.