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Equities best selling asset class in July, says IMA


Equities were the UK’s best selling asset class in July 2013 with net retail sales of GBP1.4bn, according to figures released by the IMA.

Net sales for ISAs in July 2013 totalled GBP125m, compared to an outflow of GBP25m this time last year.
Adrian Lowcock, senior investment manager at Hargreaves Lansdown, says: “The sell-off in May proved to be short-lived and stock markets rebounded in July. We saw investor confidence returning strongly in July, rising 11.6 per cent to its highest level since May 2006.
“There was a lot of positive news coming out of the UK and US. There has been significant change in outlook in the domestic economy. At the start of the year the UK was on the brink of entering an unprecedented triple dip recession. Instead revised statistics showed the UK economy had avoided a double dip recession and there are very early signs of a recovery.
“The US economy is showing stronger signs of improvement with the Fed reporting annualised growth of 1.7 per cent in the second three months of the year.  The economy is improving; house prices are rising and employment is stabilising. Consumers are feeling better and starting to spend more confidently.
“Investors should remain vigilant as the economic recovery in the UK and US remains weak and are supported by low interest rates and loose monetary policy. Sentiment can change rapidly. In August we have seen further sell-offs in emerging markets, through falls in both the currencies and shares. This week Syria has been some cause for concern for investors worried about the effects military action could have on oil prices.”

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