Tracker funds have seen their highest ever monthly net retail sales, at £938m for March.
The figures come from The Investment Association which today published its March 2015 statistics for authorised investment funds.
The figures also revealed that net retail sales were £1.1bn for March, as compared with £2.5bn for the same last year.
What’s more, UK equity funds saw their largest ever net retail outflow of £963m. And ISA net sales through funds of £2.6bn for the tax year 2014/15, up from £2.2bn in the previous tax year. European equity funds also had a record month, with net retail sales of £663m.
The Investment Association Chief Executive Daniel Godfrey said: “Net retail sales this March were well down in comparison to a year ago following the pattern seen in January and February. However, we did see record net retail sales of £938 million into tracker funds. It was also a particularly notable month as we saw retail investors switching record amounts out of UK equity funds and into European equity funds, developing a trend seen over the previous couple of months.
”The usual late push into ISAs at the end of tax year was smaller this year, with £585 million invested through funds from 1 March to 5 April 2015 compared to £822 million in the same period last year. But there was growth in overall annual sales helped by the increase of the tax free ISA allowance.”
