FINANCE: Property unit trusts and other funds attracted £274m of net inflows from retail investors in October, underlining the sector’s continuing popularity among savers and their financial advisers.
According to data from the Investment Management Association, property was the second best-selling fund sector last month among retail investors, after UK equity income.
The £274m of new money, net of redemptions, was down from £315m in September, when property was the best-selling asset class among funds monitored by the IMA.
According to HSBC Global Asset Management, IMA figures also show that total net inflows into property funds soared by 340% to £4.2bn in the 12 months to September, from £960m in the previous 12 months.
The IMA fund flow data cover UK-authorised unit trusts and open-ended investment companies, but do not include investment trusts or exchange traded funds. Property funds covered by the IMA have a total of £23bn under management.
