The UK All Companies sector saw the largest outflow ever in the month of September, according to monthly statistics published by the Investment Management Association (IMA).
The sector saw a net retail outflow of £852m; its largest outflow ever. The sector has been the worst preforming sector since June of this year.
However, part of the weak performance could be due to low sales across the industry. Net retail sales in the months of September were £702m, the lowest since January 2013. This compares to £2.31bn in September 2013.
Daniel Godfrey, IMA chief executive, said: “Following a strong first half of the year, retail sales of funds slowed in August and September, with retail investors declining to further increase their holdings of equity funds.”
Despite this, UK Equity Income remained the best-selling IMA sector for the fourth consecutive month, with net retail sales of £606m.
Global equity funds overtook Asia as the best selling funds in terms of region with net retail sales of £255m. The last time it was the best-selling region was in May 2014.
Asia fell to second place with £163m of sales. However, this is still far above its £6m average from the previous 12 months.
