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UK funds stage GBP4bn comeback in April

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UK savers put GBP4 billion into retail funds in April 2020 after record outflows in March, according to latest figures published today by the Investment Association (IA). Active funds saw strong net retail sales of GBP2.7 billion in April, reaching nearly double the net retail sales of tracker funds, which saw GBP1.4 billion in net retail inflows.

Equity funds meanwhile, alongside nearly all asset classes, returned to inflows in April with GBP2.4 billion in net retail sales, while ISA funds experienced GBP1.1 billion in net retail sales in April, as the new tax year encouraged savers to make the most of the tax wrapper.

Responsible Investment funds saw record net retail sales of GBP969 million in April.

Chris Cummings, Chief Executive of the Investment Association, says:
“After record outflows from the fund market as global lockdown measures began in March, savers returned to put GBP4 billion into retail funds in April. Part of this comeback was fuelled by record inflows into responsible investment funds in April. The crisis has brought a new momentum to the subject of responsible investing, with asset owners and retail investors asking more about their investment manager’s environmental, social and governance approaches. 

“Both active and passive funds benefited from the return to inflows in April. Bond funds gathered GBP903 million in assets, suggesting some of March’s record redemptions flowed back quickly as we moved past the initial market turbulence of the Covid-19 pandemic.“
 

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