| 2016 ranking | Asset class | 2016 net retail sales (£bn) | 2015 ranking | 2015 net retail sales (£bn) |
|---|---|---|---|---|
| 1 | Other | 6 | 2 | 4.1 |
| 2 | Fixed income | 3.8 | 6 | -2.1 |
| 3 | Mixed asset | 2.6 | 3 | 3.7 |
| 4 | Money market | 2.4 | 5 | 704m |
| 5 | Property | -2 | 4 | 2.7 |
| 6 | Equity | -8.2 | 1 | 7.8 |
UK property funds posted £2bn in outflows in 2016, and was the second worst-performing sector behind equity funds, according to the Investment Association.
The sector recorded inflows of £2.7bn in 2015.
Despite a slowdown in the property market, UK funds under management grew in value by 12.6% from £928bn in 2015 to £1.045bn last year.
However, while most asset classes saw a growth in inflows, equity, property and mixed assets experienced greater outflows than in 2015.
Data from the Investment Association in October last year showed that a combined £3bn was withdrawn from property funds in June and July in the run up to and the immediate aftermath of the referendum vote.
Property funds’ cash drain reversed in the second half of the year as the markets grew more confident.
Chris Cummings, chief executive of the Investment Association, said: “Despite a slowdown in net retail sales in what was an extraordinary and challenging geopolitical year, the UK asset management industry continued to grow strongly.”
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