Home Business NewsBusiness Staycation savers invest £1.8bn in August

Staycation savers invest £1.8bn in August

by LLB Editor
1st Oct 20 11:38 am

UK savers put £1.8 billion into retail funds in August 2020, compared to an outflow of more than £500m in August 2019, according to latest figures published today by the Investment Association (IA). The other key findings:

Bond funds continued to see strong net retail sales reaching £1.4 billion in August.
Tracker funds remained steady, with net retail sales of £1.3 billion in August, while active funds also saw an inflow of more than £500 million.
Equity funds saw a return to positive net retail sales of £340 million in August, while UK equities saw outflows of £748 million.
Chris Cummings, Chief Executive of the Investment Association, said:

“The last month of summer saw a cementing of saver confidence with £1.8 billion put into funds throughout August, in a further bolstering of the COVID-19 fund market recovery.

“Marrying financial returns with environmental, social and governance considerations continued to be popular with investors in August. Responsible investment funds attracted almost £900 million, proving their resilience amidst ongoing economic uncertainty.”

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