The Investment Management Association today publishes its monthly authorised investment fund statistics for March 2013:
– ISA net sales through funds of £1.1 billion for tax year 2012/13
– Funds under management at a new peak of £718 billion
– Net retail sales of £787 million
– Mixed Asset was the best-selling asset class with net retail sales of £291 million
– Tracker funds saw outflow of £137 million from retail investors
Daniel Godfrey, IMA Chief Executive, said:
“The last minute rush into ISAs at the end of the tax year appeared again with £347 million invested in the first five days of April alone. This is a common trend, but investors should be reminded that they can invest in ISAs on a regular monthly basis. This not only reduces the financial burden of finding a lump sum but also reduces risk as you buy more units if prices fall, which then achieve higher proportionate gains when prices recover.
“Overall sales were lower in March compared to recent months. The sector rankings for the month both for ISAs and funds in general suggest that investors are spreading their money across different asset classes and that both growth and income strategies are in demand.”
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