UK savers invested £1.4bn in retail funds in February 2020 according to latest figures published today by the Investment Association (IA).
- Net retail sales held stable at £1.4bn in February.
- Mixed Asset funds were the best-selling asset class in February, with £711m in net retail sales.
- Volatility Managed was the best selling IA sector in February, with £888m in net retail sales.
- Responsible investment funds continued to grow in popularity, with £735m in net retail sales, in a second consecutive month of record inflows.
Chris Cummings, Chief Executive of the Investment Association said, “Despite the growing global impact of coronavirus on economic activity, February in the fund market didn’t reveal any dents in investor confidence, as savers put £1.4bn into funds across the month. However, caution was definitely in the air and savers top preference was for diversified funds, with Mixed Asset funds attracting £711m.
“Few in February could have predicted the impact of a spate of lockdowns on global capital markets, or the extraordinary raft of measures from governments and central banks to help shore up economies around the world. It remains to be seen just how significantly steep market falls have affected investor behaviour in March.”