Equities continue to be the most popular type of investment for many people, according to one expert.
The latest Investment Management Association (IMA) statistics revealed that funds under management of UK domiciled investment funds rose by three per cent to £480.6 billion last month.
According to the association, £563 million of the £876 million net retail sales in October was invested in equities, compared with £209 million in balanced funds.
Richard Saunders, chief executive of the IMA, said: "Overall net retail sales continued to hold up well despite recent market volatility with equities remaining the most popular asset class for retail investors."
In related news, research by Barclays Stockbrokers has revealed that 79 per cent of investors actively look to diversify their portfolios.
The firm found that 20 per cent of people choose to do so by investing in different asset classes, while 19 per cent put their money in a variety of markets and a further 40 per cent choose different sectors.
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