In February, gross retail sales through UK intermediaries (including Financial Planners) were £7bn, representing a market share of 22.4%, according to the figures from the Investment Association.
In February, gross retail sales for UK fund platforms totalled £15bn, representing a market share of 48.1%.
Direct gross retail sales in February were £1.8 billion, representing a market share of 5.8%.
Fixed income was the most popular asset class in February with £1.4bn in net retail sales, according to the figures.
Mixed Asset was the second best-selling asset class with £838m of inflows.
Responsible investment funds continued to see growth, with funds under management standing at £61bn as at the end of February, in comparison to £56bn at the end of 2020. However, their overall share of industry funds under management was 4.3%, a drop from the 7% recorded at the end of 2020.
Responsible investment funds saw a net retail inflow of £217m in February 2021.
Chris Cummings, chief executive of the Investment Association, said: “Savers invested £2.4 billion into funds in February, with bond funds accounting for over half of inflows. The preference for Asian equities continues as the opening up of Asian economies following the pandemic advances ahead of Europe and the US. Global equities remain a perennial favourite as savers looked to spread their risk through globally diversified funds.
"Closer to home, UK Smaller Companies funds continued to buck the trend of outflows from funds investing in UK shares, receiving £142 million in February, and North American Smaller Companies funds also attracted strong inflows of £252 million.”