Gross retail sales through UK fund platforms totalled £4.3 billion (around $6.9 billion) in October 2012. This represents a market share of 47 per cent, up from 43 per cent in October 2011.

The Investment Management Association’s investment fund statistics for October 2012 show that the share of gross retail sales going to other intermediaries – including wealth managers, stockbrokers and IFAs – fell slightly to 45 per cent, from 46 per cent in October 2011. Direct sales accounted for 8 per cent of net retail sales during the month, the lowest market share ever recorded.

Equity was the leading asset class for the second consecutive month with net retail sales of £550 million – the highest since April 2012. This is in contrast with an average outflow of £9 million over the past 12 months. Fixed income was the second best-selling asset class with net retail sales of £336 million, a slight improvement from last month when it was the lowest in a year. On a sector basis, global emerging markets was the best seller for the first time on record.

“Net retail sales remained buoyant in October, with investors adding just under £1 billion (around $1.6 billion) to their portfolios. Income funds are still popular with investors, accounting for three of the top five sectors in October,” Richard Saunders IMA chief executive said in a statement.