UK savers put £4.7 billion into retail funds in May 2020 building on the positive fund flows in April, according to latest figures published today by the Investment Association (IA). The other key findings:
Active funds saw continued strong net retail sales of £3.5 billion in May, reaching more than double the net retail sales of tracker funds, which saw £1.3 billion in net retail inflows.
Bond funds saw net retail sales double from April, with £1.9 billion in May.
Responsible Investment funds saw another month of strong net retail sales, attracting £911 million in May.
Chris Cummings, Chief Executive of the Investment Association, said: “It was steady as she goes for the fund market in May, as net retail sales continued their stable recovery after significant outflows in March.
“Building on strong inflows in April, active funds were boosted by £3.5 billion in May, while tracker funds also benefited. Bond funds were also buoyed in May, doubling April’s inflows to £1.9 billion.
“Responsible investment funds sustained their strong momentum by pulling in close to a record £1 billion for a second month in a row.”