Investment funds saw record net retail sales in the first nine months of 2009, the latest statistics from the Investment Management Association (IMA) have revealed.
In fact, the total investment fund sales of £18.7billion for the first nine months of this year were higher than the total sales for 2000, the highest annual sales on record to date.
Month on month, sales have seen a steady increase as September saw £2.7billion in net retail sales, up 24 per cent on August, and the sixth month in a row that investment fund sales have topped £2billion.
When it comes to asset classes, equity funds have taken over from bonds as the most popular in terms of net retail sales. In fact, equity fund sales in September came in at £995million, while bond funds saw sales of £556million.
Commenting on the bumper sales, Richard Saunders, chief executive of the IMA said: "2009 is set to break the record for investment fund sales. Total net retail sales for the year-to-date reached £18.7billion in September. This already surpasses the previous record for a full year, which was in 2000."
Commenting on the return to equity funds, he added: "Investors are showing an increasing interest in equity funds, after a period in which bonds have dominated."
Meanwhile, investment ISA sales totalled £162.3million in September, remaining positive for the seventh consecutive month.
© Fair Investment Company Ltd