The UK funds industry saw a good first half of the year, with strong investment fund sales. Net retail sales in the first half of 2012 were 8.1 billion, almost double the levels of the second half of 2011 (4.4 billion).
Fixed income remains best-selling asset class for tenth consecutive month. Sterling corporate bond remains the highest selling sector in June 2012 making fixed income sectors the best-sellers for seven consecutive months.
UK domiciled funds saw funds under management of 598 billion at June 2012, a dip compared to 604 billion at June 2011. Additionally, June saw net retail sales of 820 million, below the monthly average of 1.2 billion for the previous 12 months and the lowest month this year.
(JDC)