Investment funds continued to see record sales in November 2009, the latest statistics from the Investment Management Association (IMA) have revealed.
The figures show total net retail sales of £2.4billion in November 2009, making November the eighth consecutive month when investment fund sales have topped £2billion.
Equities out-shone bonds for the third consecutive month as investors regain confidence in the stock market. In fact equity funds saw sales of £930million in November, almost five times the £187million bond fund sales.
When it comes to sector, property was the top seller for the second consecutive month, compared to January 2009, when it ranked 28th out of the 34 sectors.
Meanwhile, ISA sales once again saw the highest ever monthly sales outside of the ISA season, seeing sales of £987million in November 2009, topping the £965million seen in October.
Commenting, Richard Saunders, chief executive of the IMA said: "November saw a continuation of record fund sales – with investors putting in ten times more money in 2009 than they did in the first 11 months of 2008. It is good to see investors once again taking advantage of the benefits of ISAs after several years of net outflows."
He added: "The last few months have seen a resurgence of sales of Equity and Property funds. This is in sharp contrast to the beginning of the year when bond funds were outselling other asset types and the Property sector was seeing outflows."
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