Net sales of overseas domiciled funds in the UK were £421.6m in May, according to latest figures from the Investment Management Association, reversing the falling trend seen earlier in the year . Of this total, the amount attributable to retail sales was £180.6m.
This was a significant step forward after total net sales in April of £26.4m, itself a positive move after net outflows in the previous three months totalled more than £850m. Funds under management in overseas funds held in the UK have also recovered after experiencing falls earlier in the year. The total at the end of May stood at £17.35bn, up from £15.94bn in April, but this still only represents a return to the level of assets under management in November 2007. Richard Saunders, chief executive of the IMA, commented: “May saw respectable levels of new retail investment, after the recov...
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