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Net retail fund sales totalled GBP6.2bn in December , says IA

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Net retail sales reached GBP6.2 billion in December 2020, in the second largest monthly net retail sales figure on record after November 2020, new data published by the Investment Association (IA) reveals. 

Active funds saw net retail sales of GBP5.2 billion in December, just below the record inflow of GBP5.4 billion in November 2020, while tracker funds attracted GBP926 million.

Responsible investment funds attracted a record GBP1.1 billion in net retail sales in December 2020.

Equity funds were the best-selling asset class in December, attracting net retail sales of GBP2.5 billion, buoyed by strong net retail sales to Global equity funds of GBP1.5 billion.

The UK’s funds under management (FUM) reached a record GBP1.4 trillion at the end of 2020, after a tumultuous year where FUM reached as low as GBP1.1 trillion at the end of March. 

Net retail sales for 2020 reached GBP31 billion, with inflows in Q2 and Q4 both exceeding GBP10 billion. Total net retail sales for 2019 only just reached GBP10 billion.

Responsible investment funds saw net retail sales treble to GBP10 billion in 2020, compared to GBP3.2 billion in 2019.

Active funds attracted GBP12.4 billion in net retail sales in 2020, compared to outflows of GBP8.1 billion in 2019.

Equity funds were the best-selling asset class in 2020 attracting GBP10.4 billion, buoyed by strong net retail sales in Q2 and Q4 and a significant reversal of 2019’s GBP2.9 billion net retail outflows.

Chris Cummings, Chief Executive of the Investment Association, says: “December saw a continuation of the strong net retail sales of November, with the fund market buoyed to a positive end-of-year position. Growing positivity around coronavirus vaccines helped boost stock market performance in December which in turn fuelled investor appetite for stocks and shares funds, with investors placing GBP2.5 billion into these funds throughout the month.

“The fund market accumulated strong sales over 2020 and ends a tumultuous year with record funds under management. Continued economic uncertainty, set against the progress made on a national vaccine roll-out, means we enter 2021 with cautious optimism.”

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