Total net retail sales of funds in the UK reached £24bn in the first half of 2021, the highest amount in the first six months of the year since the record set in 2017, according to Investment Association (IA) data.
June alone took in £4.2bn in net retail flows, double the amount taken in the same month of 2020, taking total funds under management (FUM) to £1.5trn. Chris Cummings, CEO of the IA, said: "The positive inflows for the first half of the year are a clear sign of the strong economic recovery and growing investor confidence as we emerge from the pandemic. "If the pace of net sales continues at the same rate, we could be on track to match the record-breaking inflows of 2017. However, investors also have one eye on inflation, which may have a greater impact in the second half of the year."...
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