The initial reaction to the coronavirus lockdown resulted in a record £10bn in outflows from retail funds in March, according to latest figures from the Investment Association (IA).
It said fixed income funds were the worst-selling asset class in March with £7.4bn in net retail outflows. UK equity funds returned to inflows, however, with net retail sales of £747m during the month, while all other equity regions experienced outflows. Short term money market was the best-selling IA sector in March. The trade body said its net retail sales stood at £1.7bn, suggesting the value in those funds will be "re-deployed in April". Responsible investment funds remained resilient in March, with £113m in net retail sales, it added. IA to suspend equity income yield requi...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
