UK funds market maintains momentum with GBP1.6bn invested in July
UK savers put GBP1.6 billion into retail funds in June, according to latest figures published by the Investment Association (IA).
Bond funds saw net retail sales of GBP1.8 billion in July, with the global bond sector the best-selling sector with GBP693 million invested.
Equity funds meanwhile, experienced outflows of GBP609 million, driven by UK equities, while responsible Investment funds experienced another month of strong net retail sales with GBP966 million invested in July, and tracker funds saw net retail inflows of GBP1.4 billion in July.
Chris Cummings, Chief Executive of the Investment Association, says: "The fund market maintained a steady course in July as savers invested GBP1.6 billion. Bond funds took pole position, with net retail sales close to GBP2 billion for the third consecutive month, as investors sought out new sources of income.”
“Responsible investment funds have sustained their strong appeal during the coronavirus pandemic, with savers investing almost GBP1 billion for the third time since April.”