The figure represents the highest level of retail inflows since December 2009, and the first time the IMA Property sector has topped the trade body’s monthly rankings since January 2010.
Overall net retail sales for May stood at £1.9bn – close to the £2bn average of the last 12 months, with equity funds once again the highest selling asset class with net sales of £558m.
Property funds have enjoyed a run higher over the last five years, the average fund in the sector returning 67% over the last half decade.
Daniel Godfrey, IMA chief executive, said: “After the rush of the ISA season in March and April, net retail sales held up well at £1.9bn in May, with investors spreading their investments across all the main asset classes.
“Equities continued to lead the way with UK Equity Income and Global in the top five top-selling IMA sectors. But Property also received a big slice of investors’ funds.”
