Active funds lead as retail sales near GBP5bn
UK savers put GBP4.7 billion into retail funds in May 2020 building on the positive fund flows in April, according to latest figures published today by the Investment Association (IA).
Active funds saw continued strong net retail sales of GBP3.5 billion in May, reaching more than double the net retail sales of tracker funds, which saw GBP1.3 billion in net retail inflows.
Bond funds, meanwhile, saw net retail sales double from April, with GBP1.9 billion in May, while responsible Investment funds saw another month of strong net retail sales, attracting GBP911 million in May.
Chris Cummings, Chief Executive of the Investment Association, says: “It was steady as she goes for the fund market in May, as net retail sales continued their stable recovery after significant outflows in March.
“Building on strong inflows in April, active funds were boosted by GBP3.5 billion in May, while tracker funds also benefited. Bond funds were also buoyed in May, doubling April’s inflows to GBP1.9 billion.
“Responsible investment funds sustained their strong momentum by pulling in close to a record GBP1 billion for a second month in a row.”