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The
Investment Association is the trade body that represents UK
investment managers.
Equity was the best-selling asset class for the second
consecutive year with net retail sales of 8.4 billion pounds,
while UK Equity Income was the best-selling of the IA's sector
funds, with net retail sales of 4.3 billion pounds.
Sales of tracker funds, meanwhile, hit a record 5.4 billion
pounds to take total funds under management to an all-time high
of 108 billion pounds, it said.
"After a slow start, net retail sales bounced back in the final
three quarters of the year with investors favoring equity
products, particularly European funds and those with an income
focus," said IA Interim Chief Executive Guy Sears.
(Reporting by Simon Jessop; editing by Carolyn Cohn)
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