Tuesday, 01 July 2014 11:34
Property tops IMA's best selling investment sectors for May
The latest monthly statistics for authorised investment funds has shown the property sector leading the way with net retail sales of £491 million.
The Investment Management Association has released its newest figures – which relate to May.
It announced the property sector had highest net retail sales since December 2009 at £491 million.
The top five best-selling IMA sectors for May 2014 were:
1. Property with net retail sales of £491 million. The last time this sector was the best-selling was in January 2010.
2. UK Equity Income with net retail sales of £270 million.
3. Global with net retail sales of £248 million.
4. £ Strategic Bond with net retail sales of £210 million.
5. Mixed Investment 20-60% Shares with net retail sales of £207 million.
Fund net retail sales were £1.9 billion – close to the £2 billion average of the last 12 months.
Equity remained the highest selling asset class with net retail sales of £558 million.
Global Equity funds were the best-selling region in May 2014 with net retail sales of £390 million.
Mixed Asset was the third best-selling asset class with net retail sales of £355 million.
The fixed income asset class saw net retail sales of £223 million.
Daniel Godfrey, IMA Chief Executive, said: "After the rush of the ISA season in March and April, net retail sales held up well at £1.9 billion in May, with investors spreading their investments across all the main asset classes.
"Equities continued to lead the way with UK Equity Income and Global in the top five top-selling IMA sectors.
"But Property also received a big slice of investors' funds and topped the IMA sector table for the first time since January 2010."
For the five fund platforms that provide data to the IMA - Cofunds, Fidelity, Hargreaves Lansdown, Skandia and Transact - net sales for May 2014 were £1.2 billion.
Personal pensions had the highest net sales at £614 million, followed by unwrapped (£318 million), ISAs (£205 million) and Insurance Bonds (£14 million).
For the same five fund platforms, funds under management as at the end of May 2014 were £172 billion, compared with £150 billion a year earlier.
In May 2014, net retail sales of ISAs through fund companies and the five fund platforms that provide data to the IMA - Cofunds, Fidelity, Hargreaves Lansdown, Skandia and Transact - were £98 million, compared to £204 million in May 2013.
The worst-selling IMA sector for May 2014 was North American Smaller Companies with a net retail outflow of £96 million.
This is the first time the sector has been the worst-selling (based on net retail sales) since April 1997.