UK savers invest GBP1.8bn in August as recovery continues
UK savers put GBP1.8 billion into retail funds in August 2020, compared to an outflow of more than GBP500 million in August 2019, according to latest figures published today by the Investment Association (IA).
Bond funds continued to see strong net retail sales reaching GBP1.4 billion in August, while tracker funds remained steady, with net retail sales of GBP1.3 billion in August. Active funds also saw an inflow of more than GBP500 million.
Equity funds saw a return to positive net retail sales of GBP340 million in August, while UK equities saw outflows of GBP748 million.
Chris Cummings, Chief Executive of the Investment Association, says: “The last month of summer saw a cementing of saver confidence with GBP1.8 billion put into funds throughout August, in a further bolstering of the Covid-19 fund market recovery.
“Marrying financial returns with environmental, social and governance considerations continued to be popular with investors in August. Responsible investment funds attracted almost GBP900 million, proving their resilience amidst ongoing economic uncertainty."