Investors flocked back to risk assets in March in what was a record-breaking month for the industry with £4bn of net sales.
In a stark reversal of recent trends, equities shot back to popularity with £1.7bn of net sales and the UK All Companies sector saw its best month since December 2013.
Of a total £924m into UK equity funds of all stripes, some £596m went into tracker funds, the Investment Association said. Trackers as a whole saw net sales of £1.7bn, the highest level since June 2013.
Fixed income, multi-asset and targeted absolute return sectors all secured strong sales during the month, in line with figures seen in February.
The top five sectors demonstrated a variety of strategies were in demand among retail investors. UK All Companies topped the table, followed by Targeted Absolute Return in second, Global funds in third and the Sterling Strategic Bond sector in fourth.
Mixed asset funds proved the most popular over the first quarter in total, drawing in £2.1bn of net sales. Net sales of £6.6bn for all funds represented the best start to a year since 2014.
