IMA: Targeted Absolute Return best selling sector for May

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Targeted Absolute Return was the best-selling IMA sector during May after notching up £255m in net sales, according to its latest figures.

Mixed Investment 20-60% Shares and £ Strategic Bond were the next two most popular, recording £231m and £222m in net sales respectively.

With fund net retail sales remaining at over £2bn for the year, equity was the best-selling asset class with total net retail sales of £781m.

In contrast, the worst selling IMA sector for May was UK All-Companies which endured a net outflow of £102m.

IMA chief executive Daniel Godfrey says: “After the Isa season months of March and April we usually see a sizeable drop in fund net retail sales but they remained strong in May this year at £2.1bn with investors making significant net investments across all the main asset classes.”