2009 record year for fund sales - IMA
Wednesday 3rd February 2010
By Mike Jones
The Investment Management Association has published figures for the fund management industry for December and the full year of 2009.
* Fund sales highest on record - £25.8billion net retail sales, 45% above previous best year;
* The highest year end for funds under management - £480.8billion;
* ISA sales of £2.8billion - the best year since 2001;
* Corporate Bond the highest selling IMA Sector for 2009;
* Absolute Return the best-selling IMA Sector for December, just beating Property.
Richard Saunders, Chief Executive of the IMA, said: "2009 has seen investors adding to their savings at record rates.
"This trend can be traced back to the autumn of 2008 in the immediate aftermath of the Lehman crash and the ensuing market falls. Investors have prudently chosen wide diversification both across asset classes and geographically - in marked contrast to the previous record year of 2000. And it is good to see people once more investing via ISAs, after five years in which ISAs saw higher levels of withdrawals than investments."
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