Net retail fund sales hit 1.6bn for October

Net retail fund sales hit 1.6bn in October, an increase of 1bn on the same month last year, according to figures from the Investment Management Association. Gross retail sales were also up, from 3.5bn to more than 5.3bn, with the largest share going to funds in the UK All Companies sector.

Net retail sales were dominated by the Specialist sector, which received a boost of 520m. About 380m flowed into property funds, according to the IMA.

UK Equity Income was the second most popular retail sector, with inflows of nearly 330m. The largest outflow was in Global Growth, which lost 140m in assets.

In terms of asset class, retail investors still favours equities over bonds. More than 1bn went into equities, with just 250m into fixed income. This is the opposite to October 2005, when just 140m went into equities and almost 300m was invested in bonds.