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BRIEF-British sales of mutual funds bounce back in August - Investment Association
October 3, 2016 / 10:42 AM / a year ago

BRIEF-British sales of mutual funds bounce back in August - Investment Association

Oct 3 (Reuters) -

* Investment Association says mutual fund sales in the UK bounce back in August after Brexit slump, total assets now at more than 1 trillion pounds.

* Net retail sales of 1.7 billion pounds in August.

* Fixed Income was the best selling asset class with sales over 1.2 billion pounds.

* Mixed Asset funds were the second best-selling with net retail sales of 412 million pounds.

* Money Market funds were the third best-selling with net retail sales of 200 million pounds.

* Property funds saw a small net retail inflow of 1 million pounds.

* Equity funds saw a net retail outflow of 629 million pounds.

* Targeted Absolute Return was the most popular sector with sales of 480 million pounds. Source text for Eikon: Further company coverage: [ ] (Reporting By Simon Jessop)

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