UK net retail sales have jumped to £8.1bn in the first half of 2012 with fixed income continuing to dominate, according to figures from the Investment Management Association.
The figures is almost double the £4.4bn of net retail sales seen in the second half of 2011.
The Corporate Bond sector retained its position as the best selling retail sector in June 2012, with net retail sales of £223m, above the monthly average for the past 12 months of £212m but down on the £481 of net retail sales seen in May 2012. This now means a fixed income sector has been the bestselling sector for 10 of the last 12 months.
The UK All Companies sector was the worst selling sector with a net outflow of £114m in June 2012. The sector was the worst-selling in six out of the last 12 months.
There were £820m of net retail sales in June 2012, down on the £1.2bn recorded in May 2012 and the £2.1bn of sales in June 2011. Funds under management now stand at £598bn compared to £604bn in June 2011.
Source: FundWeb. Read full article here.