Record year for retail sales as net inflows reach £18.7bn

Equity fund sales overtook bonds for the first time since 2007 last quarter as the IMA announced 2009 has been a record year for net retail sales.

Total net retail sales for the first nine months of 2009, £18.7bn, is more than for the whole of 2000 - the previous highest annual sales on record with sales of £2.4bn, compared to £2.1bn for bonds, according to the IMA.

Equity funds have taken over as the most popular asset class in terms of net retail sales, with sales of just under £1bn compared to £566m for bonds.

In addition, the IMA Corporate Bond sector was knocked off the top spot after ten months, by the Absolute Return sector, which took inflows of £442m over the month.

Net retail sales for September were £2.7bn, 24% up on the £2.2bn seen in August. September was the sixth month in a row in which net retail sales topped £2bn.