PEP sales in April soar to a record pounds 1.7bn

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BRITISH net personal equity plan (PEP) sales set a new monthly record of pounds 1.7bn in April.

Total gross unit trust and open-ended investment company sales also set a record of pounds 5.3bn, overtaking the previous high of pounds 4.3bn set the previous month.

The previous monthly record in PEP sales was pounds 1.5bn and was reached in March when savers moved to take advantage of favourable budget measures, the Association of Unit Trusts and Investment Funds said in a statement.