Sales of overseas domiciled funds have rocketed in July, according to the latest figures from the IMA.
Net retail sales of overseas domiciled funds for the month were £280m, compared to the previous month's £44.2m. July's net inflows are even more dramatic when compared to figures for the same month last year when overseas domiciled funds suffered a net outflow of £91.3m. Overseas funds under management of £21.1bn in July 2009 were up 6% on the previous month's figure of £20bn. FUM slumped to £18.2bn in July last year. Furthermore, overseas ISA assets of £319m were up 8% on the previous month. Net retail sales of overseas domiciled investment fund ISAs saw an inflow of £0.8m in ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
