UK - Schemes bought £276.3m of gilt funds during June - up from the £176.2m in May - new figures from the Investment Management Association show.
The IMA said gross institutional sales to pension schemes at the end of June totalled £1.28bn, up marginally on the £1.27bn worth of funds schemes bought during the previous month.
At the end of June, UK gilt funds were the most popular buy – up from third spot in May – and taking over from UK all-companies’ equity fund sales which dropped from £256.1m worth of sales to £221.7m.
The biggest increase was in Far East excluding Japan equity funds, which finished June in fourth spot with £136m worth of sales.
In May schemes only bought £54.8m worth of Far East ex Japan funds.
Schemes cut their exposure to North American equity funds during June, and according to IMA statistics, sales fell from £179m at the end of May to £69.2m within a month.
Corporate bond fund sales to schemes fell from £104.8m at the end of May to £99.4m by the end of June.
However, Japanese equity funds saw an increase in sales, up from £66m to £71.6m by the end of June, while global bond fund sales more than doubled from £23.2m to £47.5m within a month.
Index-linked gilt fund sales were also up from £10.3m at the end of May to £30.9m by the end of June.
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