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Data from the Investment Management Association (IMA) has shown that such funds, which include stocks and shares individual savings accounts (Isas) are now worth around £450.3 billion.
This represents a dip of two per cent from 12 months ago and the IMA has noted that its figures for the first time reflect the investments in personal equity plans and Isas linked to stocks and shares.
Richard Saunders, chief executive of the IMA commented: "After two extremely modest quarters, net retail sales bounced back in April to £1.5 billion, the best performance for a year."
"Property funds reversed recent outflows, recording positive flows of some £70 million," he added.
Last week, the IMA's chairman Robert Jenkins suggested that while the fallout from the credit crunch has not passed, it is not too soon to learn the lessons from recent economic events and difficulties.
