Record second quarter sales for investment funds

Sales of investment funds remained strong in June, new industry figures reveal.

The Investment Management Association (IMA) said that £533 million of inflows for the £ Corporate Bond sector were experienced in June, along with £44 million for foreign-domiciled funds.

This helped to contribute to the second quarter providing the highest net retail sales on record.

Investor sentiment has been buoyed by the performance of the global stock market over recent months.

For example, the FTSE 100 is now over 1,000 points higher than it was in early March.

Strong fund sales also seem likely to continue in July, with the flagship London index rising by around ten per cent in the past fortnight.

Richard Saunders, chief executive of the IMA, said: ’Investors have been coming back to the market in recent months and June saw a continuation of this trend.

’Retail investors have begun over the last two months to put money into equity funds, particularly international equities, as well as bond funds.’ADNFCR-2318-ID-19287066-ADNFCR